Stock exchange in Frankfurt: Dax remains stable above 13,000 points

A series of pleasing quarterly reports supported the Dax at the start of trading on Wednesday.

Stock exchange in Frankfurt: Dax remains stable above 13,000 points

A series of pleasing quarterly reports supported the Dax at the start of trading on Wednesday. After the leading German index had closed above the 13,000 point hurdle the day before thanks to support from Wall Street, it has now managed to stay above it.

A few minutes after the start of the stock exchange, the Dax fell by a minimum of 0.04 percent to 13,048.26 points. Deutsche Bank gained 1.2 percent after quarterly figures. The MDax rose in the morning by 0.14 percent to 23,841.053 points. At the same time, the EuroStoxx fell by 0.25 percent to 3576.59 points.

"The fact that the after-hours price losses at Microsoft and Alphabet are not affecting the overall market is a good sign," said market expert Jochen Stanzl from CMC Markets. The expectations for the third quarter have probably been reduced sufficiently so that negative surprises are likely to be priced in. The positive quarterly surprise from Deutsche Bank could keep the mood high in Germany, he added.

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