FX.co ★ DAX Gains As Business Sentiment Improves

German stock markets experienced a rise on Wednesday, driven by improved business sentiment in the country as reported by the ifo Institute. Business confidence for April has increased to 89.4, a noticeable jump from March's estimation of 87.8, against economics predictions of a minor rise to 88.9.

The DAX index, an indicator of market performance, surged by 61 points. This increment of 0.3%, which resulted in a closing of 18,199, followed a significant boost of 1.6% the previous day.

Tech stocks, primarily Infineon Technologies, enjoyed an uptick of approximately half a percent. In addition, banking stocks such as Commerzbank and Deutsche Bank also experienced slight gains.

Conversely, the biotech firm, Evotec SE, underwent a 32% drop after unveiling its annual report and announcing a new CEO.