At the end of the week, the Dax experienced growth. By the close of Xetra trading, the index was calculated at 23,499.32 points, representing a 0.63% increase compared to the previous day’s close. The Dax even reached a record high of 23,543.27 points during the day.
Market analysts attribute the recent hopes in the trade dispute as a driving force behind investor optimism.
At the top of the stock list, Commerzbank shares were trading over 3% in the green, right behind Bayer and Daimler Truck. In contrast to the trend, Allianz shares at the bottom of the list were down over 2%, following Qiagen and MTU Aero Engines.
The European common currency strengthened on Friday afternoon, with one Euro costing 1.1265 US dollars, while one US dollar was equivalent to 0.8877 Euros.
The gold price also benefited significantly, with a fine ounce trading for 3,344 US dollars in the afternoon, representing a 1.2% increase. This equates to a price of 95.44 Euros per gram.
Meanwhile, the oil price experienced a significant increase, with a barrel of North Sea Brent trading at approximately 63.57 US dollars on Friday afternoon, which is 73 cents or 1.2% more than the previous day’s close.