FX.co ★ DAX Gains Ground

The DAX index in Frankfurt saw a continuation of its early gains, surpassing the 24,100 threshold on Friday afternoon—a level not reached since mid-November. This movement positions the index for a second consecutive weekly increase. Bolstering these gains was the recent release of the US PCE inflation data, which has fueled anticipation for a Federal Reserve interest rate reduction in the upcoming week. Additionally, the GDP growth figures for the Eurozone were modestly upgraded to 0.3% for the third quarter, following an initial estimate of 0.2% and surpassing the second quarter's 0.1% growth. Market participants also paid close attention to geopolitical events, with particular focus on potential progress towards a Ukraine peace agreement. Among the strong performers in the market were automakers, with BMW rising by 3.7% and Porsche advancing by 2%, amid a postponed EU ban on combustion engines, which had already been accounted for in stock valuations. Infineon Technologies and MTU Aero Engines also saw notable gains, with increases of 3.3% and 2.1%, respectively.