Investors on the German stock market maintained their recent restraint after the strong start to the year on Wednesday. In the first few minutes of trading, the Dax rose by 0.09 percent to 15,106.00 points. The MDax for medium-sized companies rose by 0.10 percent to 28,595.00 points. The EuroStoxx 50, the leading index in the euro zone, gained around 0.1 percent.

"So far, the Dax has successfully resisted a major setback. However, there is a lack of positive impulses for a further rise in the price," explained analyst Thomas Altmann from QC Partners. The announcement of the Ifo index in the morning could provide a breath of fresh air. A week ago, the Dax had reached a high since February 2022 and gained almost 10 percent in the young year. In the subsequent consolidation phase, however, he was only able to defend the 15,000 point mark with difficulty.