At the end of a strong stock market week, the Dax reached another high on Friday. The ongoing hype about artificial intelligence (AI) and Nvidia's strong quarterly figures in the middle of the week continued to resonate. After an initially leisurely first half of trading, record high US stock markets again provided a new boost in this country from the afternoon onwards.
With a record of 17,443 points, the leading German index climbed a few points above the level reached the day before; at the close of trading the increase was still 0.28 percent to 17,419.33 points. This brings the weekly balance in the leading index to just under 1.8 percent - the highest gain since the end of January.
Konstantin Oldenburger from CMC Markets expects the winning streak to continue: "The DAX is heading towards its next interim target, the 17,500 mark. As in the chart technical textbook, it is using the foundation that it built in a weeks-long consolidation around 17,000 points , as a springboard for the next sound barrier with the number 18 before the thousand point." But the expert also warned of the large discrepancy “between the economic reality in Germany” and a stock market at record levels. "For now, however, the ongoing enthusiasm for artificial intelligence is pushing the stock market higher."
At the end of the week, the quarterly reports from the DAX heavyweights Allianz, BASF and Deutsche Telekom attracted attention in this country - all three stocks fell, in some cases significantly. This was offset by further price gains, especially in the automotive sector - with up to 1.85 percent for Porsche AG. The leader in the leading index was Rheinmetall with an increase of a good 2.1 percent. The record run continued here.
According to the figures, Allianz papers lost more than three percent. Traders explained this with profit-taking after the strong run for months. The insurer's price was recently at a high of more than 20 years, above 250 euros. BASF shares fell by around half a percent. The chemical company's outlook for financial inflows is disappointing and puts a question mark over the amount of the dividend, said a stock exchange investor. Deutsche Telekom was also unable to convince investors with its figures; the share price fell by almost one percent.
The MDax of medium-sized stocks, however, lost 0.38 percent to 25,999.48 points on Friday, with high price losses at the defense company Hensoldt weighing on it.
Hensoldt investors also cashed in after the defense electronics manufacturer's balance sheet was presented. Analysts were particularly disappointed with the outlook, from which they had hoped for more. The shares ended the weekend with a loss of 7.1 percent. This means that a large part of the price rally since the end of January has now disappeared.
Krones shares also fell sharply, falling five percent. Hauck Aufhäuser Investment Banking had withdrawn its buy recommendation for the shares of the manufacturer of beverage bottling systems.
Away from the major indices, the shares of the hemp processor Synbiotic rose in price by around a fifth. The trigger was the decision in the Bundestag on Friday to limit the legalization of cannabis in Germany.
Europe's stock markets also continued to rise. The stock exchanges in Paris and London posted moderate gains. The EuroStoxx 50, the leading index for the euro zone, expanded its growth to its highest level since 2000 and rose by 0.35 percent to 4872.57 points. The record rally continued on Wall Street with new records in the Dow Jones Industrial, S
On the foreign exchange market, the euro last cost 1.0826 US dollars. The European Central Bank (ECB) had previously set the reference rate at $1.0834.
On the bond market, the current yield rose from 2.48 percent the day before to 2.51 percent. The Rex bond index fell by 0.22 percent to 124.72 points. The Bund future was 0.57 percent higher at 133.28 points.
