FX.co ★ DAX Hits Record Level

The Frankfurt DAX index saw a notable increase of 0.7% on Friday, surpassing the 23,500 mark to set a new record high. This rise builds on gains observed on Thursday and reflects the positive sentiment across global markets. The upward movement was largely attributed to the recent completion of the US-UK trade agreement, which has bolstered hopes for further advancements in a more comprehensive US-EU agreement. The focus has now shifted to the forthcoming US-China trade talks, while corporate earnings remain under scrutiny. Notable contributors to the DAX's climb included Siemens Energy, Daimler Truck, Bayer, Merck, BMW, Infineon, and Brenntag, with each seeing increases of between 1.7% and 2.7%. In addition, Commerzbank shares jumped nearly 4% following unexpected profit growth in the first quarter. Over the week, the DAX gained nearly 2%, buoyed by optimism surrounding Germany’s economic outlook under the newly established government and indications of diminishing global trade tensions.