FX.co ★ DAX Extends Rally Into 6th Day

Frankfurt's DAX saw a modest increase of 0.3%, reaching 24,490 on Friday—its peak since July 9, marking a streak of six consecutive sessions of gains. The banking sector led the charge, with Commerzbank and Deutsche Bank experiencing increases of 2.4% and 0.9%, respectively. This bullish sentiment was supported by Austrian lender Raiffeisen, amid reports that the European Union is considering easing sanctions on assets related to Russian oligarch Oleg Deripaska. Additionally, the aerospace and defense sectors recorded upward movements. Noteworthy performers included Hensoldt, with a rise of 3.8%, Renk at 2.8%, Rheinmetall at 0.9%, Airbus up 0.8%, and MTU Aero Engines rising by 0.7%. These gains followed a meeting in Copenhagen earlier in the week, where regional leaders discussed developing a "drone wall" to prevent Russian aircraft from infringing on European airspace. Meanwhile, investors remained attentive to the ongoing situation with the US government shutdown, now in its third day, hopeful that it will be resolved swiftly with minimal economic repercussions.