FRANKFURT (dpa-AFX) - In the middle of the week, the Dax has largely ironed out the setback suffered on Tuesday. The continued soaring of US technology stocks also created a positive mood in Germany. Otherwise, impulses for the overall market were rare. Investors are waiting for the June inflation data from the USA on Thursday, as this could provide further information on the timing and pace of the expected interest rate cuts by the Fed. In addition, the reporting season in the United States kicks off on Friday with the first quarterly reports from major Wall Street banks.

Ultimately, the leading German index rose by 0.94% to 18,407.22 points, having lost 1.3% the day before. The MDax of mid-sized stock market companies gained 1.43% to 25,613.88 points and also rose again across Europe. The leading eurozone index, the EuroStoxx 50, gained 1.13% to 4958.86 points. The national stock markets in Paris and London rose somewhat more moderately. In the USA, the most important indices also rose recently.

Chief economist Edgar Walk from asset manager Metzler Asset Management sees the inflation data as a key factor influencing the Fed's interest rate decision. Until April, inflation had triggered concerns about stubbornly high inflation, but in May the rise in prices had slowed considerably. If the momentum remains weak in June, nothing stands in the way of a key interest rate cut in September, according to him. "Maybe even July could come back into play," he speculates.

Analyst Konstantin Oldenburger from broker CMC Markets is also focusing on the quarterly figures from US banks as the "next litmus test for the stock market". The profit expectations for the companies are high and thus also the potential for a setback for the banks.

Among the individual stocks, Volkswagen shares recovered almost completely from their morning losses and closed only 0.3 percent lower. The Wolfsburg-based company lowered its margin forecast for 2024 due to the multi-billion-euro impact of the closure of the Audi plant in Brussels. According to analyst Daniel Schwarz from the investment bank Stifel, however, a reduction in capacity at Audi is positive. In addition, the lowered forecast for the continuing business is still above his estimate and that of the market, he wrote.

Delivery Hero continued its stabilization and rose by 9.2 percent. The prospect of a more profitable business in South Korea was a driver, as the subsidiary of the food delivery service, Woowa Brothers, wants to revise its pricing structures.

Evotec benefited from a cooperation with the US pharmaceutical giant Pfizer and gained 1.2 percent. Gea ultimately rose by just 0.7 percent following key figures for the quarter and an increase in its profitability target. According to RBC analyst Sebastian Kuenne, the forecast increase was only slight. The market expectation is already in the middle of the range now being targeted, he wrote. In contrast, incoming orders remain weak.

On the foreign exchange market, the euro traded at 1.0825 US dollars and thus at the high of the reference rate (Tuesday: 1.0814) set by the European Central Bank in the afternoon. The dollar thus cost 0.9237 (0.9247) euros.

On the bond market, the current yield fell from 2.58 percent on Tuesday to 2.56 percent. The bond index Rex rose by 0.01 percent to 124.24 points. The Bund future gained 0.24 percent to 131.32 points in the early evening./ck/he

--- By Claudia Müller, dpa-AFX ---