The Dax index surged to a record high on Friday, reaching 21,799 points by midday. By 12:30 pm, the index had been calculated at around 21,787 points, a 0.2 percent increase from the previous day’s close. Siemens Energy’s shares led the pack, with Deutsche Post, Daimler Truck and Merck’s shares closing the list.
“The old favorites, such as Siemens Energy, Rheinmetall and Sunrise, are in high demand” said market analyst Andreas Lipkow. “However, the gains are also being driven by Daimler Truck and Merck’s shares.”
Despite the positive market environment, “investors’ skepticism is still not entirely absent” Lipkow noted. “The macroeconomic data continues to paint a bleak picture for Germany and it seems that the bottom is still being cemented.”
The euro was slightly weaker against the US dollar on Friday afternoon, trading at 1.0376 dollars per euro. Conversely, the dollar was worth 0.9638 euros. Meanwhile, the price of Brent crude oil also fell, with a barrel costing 76.61 US dollars at 12 pm CET, a 26-cent or 0.3 percent decrease from the previous day’s close.