FRANKFURT (dpa-AFX) - Following Donald Trump's conciliatory remarks regarding the Greenland dispute, the German stock market is heading for a significant recovery on Thursday. Broker IG estimated the DAX about two hours before the start of trading to be up 1.2 percent at 24,864 points. This would bring the leading index closer once again to the 25,000-point mark, which had been breached on Monday due to concerns over announced tariffs.
"Transatlantic tensions have eased," Commerzbank reported in the morning. US President Trump unexpectedly defused the conflict over the Danish territory of Greenland at the World Economic Forum in Davos. Against this backdrop, US stock prices had already risen the previous evening. Investors are now waiting for further details to emerge.
After a conversation with NATO Secretary General Mark Rutte, Trump withdrew his threat of punitive tariffs against Germany and seven other European countries. He explained his policy shift by stating that during the meeting, a framework for a future agreement regarding Greenland and the entire Arctic region had been established. Rutte confirmed Trump's statements, but initially did not provide many details either./tih/jha/
