FRANKFURT (dpa-AFX) – The leading index DAX turned negative on Wednesday with the heavyweight SAP. The German leading index gave up its initial gains in the afternoon and then slipped to the 23,600-point mark. It crossed the finish line 0.36 percent lower at 23,632.95 points. The MDax, which tracks medium-sized German companies, closed 0.59 percent lower at 30,148.88 points.
AI euphoria, which originated with the US software group Oracle, only had a positive effect on SAP in Germany at the beginning. Ultimately, the heavyweight’s shares became a burden for the DAX, turning clearly negative. Investors also weighed up monetary policy hopes against geopolitical concerns, which ultimately prevailed in the case of German stocks. Oracle was able to provide some support for the technology sector on the New York Stock Exchange.
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