FX.co ★ DAX Pares Gains, Still Hovers Near Record Highs

The DAX in Frankfurt witnessed early gains being pared back, ultimately trading near equilibrium around the 23,690 mark on Friday. This puts it in close proximity to record highs. Traders exhibited caution as the weekend approached, keeping a close watch on trade developments and the unfolding Russia-Ukraine discussions. Meanwhile, European Union officials indicated on Thursday that the bloc is advocating for a more extensive tariff reduction agreement with the United States compared to those currently under negotiation with the United Kingdom and China. They remarked that the talks were progressing favorably. On the corporate front, Rheinmetall topped the gainers with a 1.7% uptick, followed by Vonovia, SAP, Beiersdorf, Symrise, and Siemens Healthineers, which saw increases ranging between 1.5% and 2%. In contrast, E.ON fell by 3.9%, with BASF and Heidelberg Materials both experiencing declines of 2.2%, marking them as the most significant decliners. The weekly performance showed a 0.8% increase, setting the stage for the index's fifth consecutive weekly gain.