FRANKFURT (dpa-AFX) - The DAX continued its recent rally on Friday and reached a record high. The German benchmark index rose to over 23,543 points and ultimately closed 0.63 percent higher at 23,499.32 points at the end of the week. "The stock market lights are still green," commented Claudia Windt of Landesbank Hessen-Thüringen. "Investors are jumping in, presumably so as not to miss out."
At the beginning of April, the DAX had slumped to just under 18,490 points because US President Donald Trump had announced massive tariff packages and China had responded with countermeasures. Since then, the leading index has gained more than a quarter in its strong recovery. Since the beginning of the year, it is up 18 percent.
The MDax, which tracks medium-sized German companies, rose 0.60 percent to 29,730.13 points on Friday. However, it is still a long way off its record high from 2021.
The rally on the stock market is being driven by hopes that US President Trump will be successful as a "deal maker." He announced an initial agreement in the tariff dispute with the UK the day before. Talks between the US and China are also expected over the weekend. A statement by Trump on Friday that tariffs of 80 percent on Chinese goods seemed appropriate ultimately had little impact on the DAX.
In addition, decent quarterly reports from companies drove share prices, according to experts at Landesbank Baden-Württemberg (LBBW). Added to this were expectations that the new German government would provide the right economic stimulus. /niw/he
