The Dax continued its soaring and was crowned with its seventh record in a row. Based on the closing price, the leading German index even set a record for eight days in a row. Stock market expert Thomas Altmann from QC Partners spoke of the longest record series since 2015.
A surprisingly weak decline in inflation in Europe and subdued US economic data had somewhat dampened investors’ desire to buy. The DAX ended trading with a gain of 0.32 percent at 17,735.07 points. On a weekly basis it recorded an increase of 1.8 percent.
Financial market observer Andreas Lipkow noted the first signs of fatigue. The experts at Landesbank Helaba also warn against excessively high expectations for further price developments.
The MDax was more robust than the Dax. It closed with an increase of 1.15 percent at 26,120.64 points, just below its daily high. The index of medium-sized companies had recently lagged behind its big brother.
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On the company side, the focus was primarily on business figures from the automotive industry. Volkswagen’s advantages collapsed after key data were surprisingly presented and went into the weekend as a DAX loser with a discount of almost five percent. The car manufacturer suffered a decline in profitability last year. The Wolfsburg-based company expects some improvement again in 2024, but investors are bothered by the high investment expenditure.
They reacted enthusiastically to the outlook from commercial vehicle manufacturer Daimler Truck, which was seen as surprisingly optimistic. With a price jump of a good 18 percent, the shares were the DAX leaders and continued their record run. In their wake, the shares of the Volkswagen commercial vehicle holding Traton rose by more than six percent as the biggest winner in the SDax small-cap index.
The shares of the car rental company Sixt also clearly performed better than the MDax, increasing by 2.1 percent.
The EuroStoxx 50, the leading index for the euro zone, gained 0.35 percent to 4,894.86 points. The London FTSE 100 posted even clearer gains, while the Paris Cac 40 almost stagnated. On Wall Street, the Dow Jones was recently 0.12 percent higher.
The euro rose and was last priced at $1.0833. Things were looking up in the bond market. The Rex bond index rose by 0.39 percent to 124.95 points. The current yield fell from 2.54 to 2.46 percent. The Bund future was most recently 0.03 percent lower at 132.58 points.
