FRANKFURT (dpa-AFX) - The German stock market is showing signs of stabilization this Wednesday ahead of the upcoming public holiday. Following significant losses in the previous session, prices are expected to edge higher. Approximately two hours before the Xetra open, broker IG saw the Dax gaining 0.6 percent to 24,100 points. This would see the benchmark index climb back above the psychological 24,000-point threshold, which it had slipped below on Tuesday.
Market attention is centered on U.S. President Donald Trump's visit to China. Jochen Stanzl, market analyst at Consorsbank, described it as 'the most closely watched event of the day.' While trade is the primary focus, with Trump traveling to Beijing alongside a 'who's who of corporate America,' the visit is being overshadowed by the conflict in Iran. Domestic political pressure on Trump to end the war has intensified following yesterday's high inflation data. 'Whether he will find the answers in Beijing, however, remains questionable,' Stanzl noted.
In addition, the wave of quarterly earnings reports continues to swell and is likely to trigger sharp price movements, as seen on Tuesday. The agenda includes heavyweights such as Deutsche Telekom, Eon, RWE, Merck, Allianz, and Siemens./bek/jha/
