The DAX 40 advanced a further 0.6% to around 26,140 on Friday, marking a second consecutive session of gains driven primarily by the automotive sector. Technology and industrial stocks also lent support to the index.
Volkswagen shares surged more than 8% after the board approved the company’s largest restructuring plan in 89 years. The program entails 50,000 job cuts and alternative solutions for four German plants, and it will curb the supervisory board’s influence over key decisions, where unions and the state of Lower Saxony currently hold a majority.
Other auto names also posted solid gains, with BMW up 2.5%, Continental rising 2.3%, and Mercedes‑Benz Group advancing 1.8%.
At the same time, investors remained focused on the interest-rate outlook, with persistent geopolitical tensions in the Middle East keeping overall sentiment cautious. The ECB is expected to raise interest rates by 25 basis points next week, while a stronger-than-anticipated US jobs report has revived expectations of further Federal Reserve rate hikes.
Despite Friday’s rebound, the DAX 40 was still on track for a weekly loss of about 1.6%.
