FX.co ★ DAX Drops on Friday

On Friday, Germany's DAX index fell by over 1%, hovering around the 23,000 mark. This decline followed a previous day of gains and was consistent with trends observed across other European markets. Renewed concerns regarding the evaluation of AI stocks have re-emerged, even in light of Nvidia's impressive earnings, contributing to market volatility. Additionally, investor sentiment has been swayed by speculation around a potential peace agreement in Ukraine. Preliminary PMI figures for Germany pointed to persistent challenges in the manufacturing sector and a deceleration in services growth for November. Siemens Energy experienced a decline of more than 6%, after a strong performance the previous day. Defense-related stocks were also under pressure, with Rheinmetall seeing a drop of nearly 4%. Among other notable decliners were Infineon Technologies, down 2.9%, along with Deutsche Bank and Commerzbank, which fell by 2.4% and 1.6% respectively, as did RWE at 1.6%. Conversely, Deutsche Telekom and Scout24 registered the most significant gains, each rising by 1.4%.