The Dax index continued to build on its positive start to the trading day on Friday, reaching an all-time high from the previous day by midday. By 12:30 pm, the leading index was calculated at around 20,860 points, a 1.0 percent increase from the previous day’s close.
Siemens Energy, Siemens, and Fresenius led the pack of top performers in the stock market.
“Market participants seem to be taking the optimism for granted and showing a certain calmness in the face of potential American trade policy events in the coming trading week” said market analyst Andreas Lipkow. Consequently, the bargain hunting in the European automotive sector is expected to continue, with Daimler Truck shares potentially benefiting from this trend.
“Investors are showing restraint in their enthusiasm for the usual suspects like SAP, Allianz, and Deutsche Telekom. The current rally is not being led by the usual suspects, but only accompanied. The breadth of the market is increasing, and it’s a thoroughly positive sign for the Dax 40” Lipkow added.
The European common currency was slightly stronger on Friday afternoon, with one euro costing $1.0306 and one dollar worth $0.9703 in euros.