German shares gained on the Frankfurt stock exchange Wednesday in what traders said was a response to the latest results in the U.S. presidential elections. The main DAX index was up 0.6 per cent to 4060, while the secondary MDAX improved 0.2 per cent to 5121 and the technology TecDAX gained 0.3 per cent to 506 in the first hour of trading. Traders said investors were paying close attention to the U.S. election results, particularly in the state of Ohio where counting was continuing. It is thought the market could be boosted by a clear winner. Pharmaceuticals concern Schering led the DAX advances with a gain of 1.37 per cent to 51.18 euros, while shares in car marker BMW slipped by 2.07 per cent after third-quarter results fell below forecasts. The euro meanwhile fetched 1.2664 dollars, down from Tuesday's European Central Bank reference rate of 1.2705 dollars. The dollar was worth 78.92 euro cents.
