Business · Markets · 8 hrs ago

DAX pauses after record high but gains 4.2% for the week

DAX pauses after record high but gains 4.2% for the week

Germany’s DAX closed nearly unchanged after a record high, ending Friday at 26,749.95 points, down 0.08%.

The index had crossed 27,000 points for the first time on Thursday and rose 4.2% over the week.

Recent company results helped lift shares: 27 DAX companies increased profits, and the firms surveyed reported operating profit of 37.7 billion euros in the third quarter.

Their sales also rose, but Germany’s car industry remained under pressure.

The gains reflect stronger activity in areas including energy, infrastructure, defence and technology, while investors were cautious about wider economic and political risks.

US shares fell, with technology stocks particularly weak, and markets widely expected the Federal Reserve to raise interest rates in December.

Analysts at DZ Bank forecast that the DAX could reach 28,500 points by the end of next year, though that is a projection rather than a certainty.

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What people are saying

Thomas AltmannQC Partners representative
Given the recent price gains, this is a good and healthy movement
via Tagesschau
Henrik AhlersChairman of EY’s management board
Growth now rests on several pillars: energy, infrastructure, defense and technology are developing dynamically
via Tagesschau
The auto industry remains under considerable pressure, however, and clouds the overall picture
via Tagesschau