The DAX 40 increased by 0.6% to surpass 26,500 on Friday, achieving a record high, bolstered by recent favourable economic indicators, declining oil prices, and sustained optimism regarding the technology sector. Attention now shifts to Fed Chair Kevin Warsh’s address at the annual central banking symposium in Jackson Hole later today, as markets seek additional insights regarding the trajectory of monetary policy.
Most sectors traded positively, with the automotive industry at the forefront, highlighted by BMW’s increase of 1.9%, Volkswagen’s rise of 1.4%, and Mercedes-Benz Group’s gain of 1.3%. Among the leading performers. Additionally, chemical companies, utilities, industrials, and technology stocks experienced solid gains.
Shares of RWE, Brenntag, BASF, and MTU Aero Engines experienced an increase of up to 1.9%. The index was positioned for a weekly increase of approximately 1.5%.
