FRANKFURT (dpa-AFX) - A positive analyst commentary boosted Wacker Chemie shares on Wednesday. The shares of the specialty chemicals company rose by 8.5 percent to EUR 113.40 by the afternoon, putting them at the top of the MDax. The mid-cap index rose by 0.5 percent.

In view of improving demand trends, the specialty chemicals group's annual outlook for 2024 appears conservative, wrote analyst Samuel Perry from the major bank UBS. The product mix in silicones, higher prices for polysilicon, lower energy costs and tax credits in the USA as part of the Inflation Reduction Act investment program should drive the operating result (EBITDA).

The chart picture has also brightened. The interim jump above the mid-March interim high of EUR 113.55 has paved the way towards the 200-day moving average. This describes the long-term trend./la/he