FX.co ★ DAX Pushes Higher to Record High

The DAX continued its upward trajectory on Wednesday, advancing over 1% to breach the 24,500 mark, setting a new record high. This momentum was largely fueled by gains in defensive stocks, as traders anticipated updates on trade negotiations. President Trump indicated that he would likely inform the EU in the coming days about the anticipated export rate, noting that talks with the EU have been making good progress. The European Commission recently reiterated its intention to reach a basic agreement with the US on the trade dispute by the end of the week. In a more contentious move, Trump threatened to impose a 50% tariff on copper and suggested potential tariffs on semiconductors and pharmaceuticals, with drug imports possibly facing up to 200% duties. In the corporate sector, Renk's shares surged by as much as 5.3% following Bloomberg's report that the military vehicle parts manufacturer was contemplating an expansion into the civilian market. Other top performers included Siemens AG, BASF, Deutsche Bank, Heidelberg Materials, and automakers such as BMW and Mercedes-Benz Group.