FX.co ★ DAX Pulls Back from Record Highs

On Friday, Germany's DAX index dipped slightly, trading around 24,500. This shift came as investors opted to secure gains following recent market highs, while defense stocks took a hit after the peace deal in the Middle East, supported by President Trump. Notable declines were seen in defense stocks, with Hensoldt and Renk seeing reductions of 4.2% and 2.6%, respectively, and Rheinmetall also experiencing a 2% downturn. Additionally, MTU Aero Engines decreased by 3.4%, and Siemens Energy saw a decline of 2.6%. Concurrently, market participants remained attentive to ongoing political developments in France and the extended shutdown of the U.S. government. They are also preparing for the onset of the Q3 earnings season next week. On the more positive side, Bayer and the Mercedes-Benz Group emerged among leading gainers, increasing by 2.8% and 2%, respectively. Overall, the DAX was on track for a 0.7% weekly gain.