The German stock market, as measured by the Dax, ended the week on a positive note. The index closed at 23,997.48 points, a 0.27 percent increase from the previous day’s close.
Leading the gains were Fresenius, Zalando and SAP, each up over one percent. Porsche, Sartorius and Siemens Healthineers also made significant gains, with Porsche’s shares increasing by over one percent.
Market analyst Andreas Lipkow attributed the Dax’s resilience to the mixed economic data from Germany and the US, which fell largely in line with expectations, indicating a continued slowdown in price growth. However, he noted that the US economic indicators, such as personal income and the trade deficit, were more positive, with personal income rising stronger than expected and the trade deficit smaller than anticipated.
Lipkow also pointed out that the US tariffs were already showing an impact and providing new arguments for their supporters. He acknowledged that European stock indexes, including the Dax, were showing a certain fatigue, with the Dax having performed well in the past six trading weeks without significant consolidation. The analyst also noted that the expected profit-taking in May had largely been absent and that the year had seen a paradigm shift in investor behavior.
The euro, the common currency of the European Union, was slightly weaker, trading at 1.1355 US dollars per euro, with the dollar equivalent to 0.8807 euros. The gold price was also weaker, with one ounce of fine gold selling for 3,290 US dollars, or 93.16 euros per gram.
The Brent crude oil price, a benchmark for the global oil market, fell, with one barrel of the North Sea variety trading at 63.82 US dollars, a 0.5 percent decrease from the previous day’s close.