The DAX 40 inched up 0.3% to around 26,070 on Friday after a muted opening, extending modest gains for a second consecutive session. The automotive sector was the main driver, highlighted by a 7% jump in Volkswagen shares after the board approved the company’s largest restructuring program in 89 years. The plan calls for 50,000 job cuts and potential alternative uses for four German plants, while also curbing the supervisory board’s influence over key decisions, where unions and the state of Lower Saxony currently hold a majority.
Among other carmakers, BMW advanced 1.7% and Volkswagen 1.1%. Strong performers elsewhere on the index included Heidelberg Materials (up 2.3%), Infineon Technologies (1.5%), and Airbus (1.2%). At the same time, investors continued to weigh the outlook for monetary policy, with the ECB widely expected to implement a 25 bp rate hike next week. Geopolitical developments in the Middle East also remained a key focus for markets.
