FRANKFURT (dpa-AFX) – The DAX resumed its record run in midweek trading. At 24,346 points, the German benchmark index reached its highest level ever and closed with a gain of 0.77 percent at 24,276.48 points. The MDax index of medium-sized companies climbed above the 31,000-point mark for the first time in three years on Wednesday, ending the day up 0.83% at 31,029.82 points.
Tax cut plans in Germany provided a boost, especially in the morning. The federal government wants to use tax relief to ensure that the economy invests more again and emerges from the crisis. To this end, the cabinet in Berlin approved a package worth billions with extended depreciation options for machinery and electric vehicles.
A statement by US President Donald Trump that it would be difficult to achieve a trade deal with Chinese President Xi ultimately did not really counteract the positive trend.
Job data from the US was weaker than…
