Frankfurt’s DAX 40 increased by over 1% to approximately 26,640 on Wednesday, reaching an all-time high and extending its winning streak to three consecutive sessions. Global market sentiment experienced a resurgence, bolstered by a revitalised interest in technology stocks.
CoreWeave’s optimistic business outlook mitigated concerns regarding an AI bubble, while the potential for Anthropic PBC to enter the public market introduced an additional element of enthusiasm. Meanwhile, oil prices hovered near eleven-week lows, contributing to the overall support. Siemens Energy spearheaded the upward movement in stocks, surging over 6% following the announcement of record quarterly revenue, an upward revision of its full-year guidance, and the introduction of plans to enhance its share buyback program.
Infineon Technologies (5.7%) and Siemens (1.9%) exhibited similar trends. Other notable performers included Deutsche Bank, Hochtief, GEA Group, and Deutsche Posts, each contributing more than 1% to the overall performance. In contrast, Brenntag experienced a decline of 4.4%, as cost pressures and a minor miss in profitability overshadowed generally favourable results.
