FRANKFURT (dpa-AFX) – After the setback of the previous day, the German stock market rose again significantly in the middle of the week. Hopes of an economic stimulus from lower key interest rates in the USA sooner rather than later proved to be the driving force. On Wednesday, the DAX overcame the 21-day average line, which is seen as an indicator of the short-term trend, and rose above the 18,300 point mark. In the end, the leading index gained 1.16% to 18,374.53 points after falling to 18,030 points the day before. The MDax mid-cap index gained 1.07 percent to 25,395.27 points.
Statements made by US Federal Reserve Chairman Jerome Powell the previous day at the central bankers’ meeting in Sintra, Portugal, resonated positively. “Particularly in view of the comments on the cooling labour market and the risks of a late first rate cut, investors see their expectations of a first rate cut in September confirmed,” emphasized…
