DAX Rises To 4-week High

(RTTNews) - The German market is up firmly in positive territory Wednesday morning, with its benchmark index hovering around a four-week high.

Investors are reacting to reports of a leadership change at the European Central Bank.

A Financial Times report said Christine Lagarde plans to leave the European Central Bank before her eight-year term as president expires in October 2027.

The benchmark DAX is up 191.50 points or 0.77% at 25,196.84 about half an hour before noon.

Siemens is up more than 4%. Siemens Energy is gaining 2.7% and Commerzbank is rising 2.5%. Heidelberg Materials is advancing 1.8%, while Infineon Technologies, Rheinmetall, Porsche Automobil Holding and SAP are up 1%-1.2%.

RWE, E.ON, Deutsche Bank, Daimler Truck Holding, Allianz, Siemens Healthineers, Beiersdorf, Mercedes-Benz and Henkel are also up in positive territory.

Bayer has tanked 8%, weighed down by the company's announcement of a proposed $10.5 billion settlement to resolve ongoing litigation over its Roundup weedkiller.

Brenntag is declining by about 4.7%, and Zalando is down 2.7%. BASF is down with a loss of 1.7%. Qiagen, Adidas, Scout24 and Deutsche Telekom are down with moderate losses.