The DAX Index Closes 0.11% Lower

The DAX Index went up by 198 points or 0.78 percent on Friday to close at 25779 points. The rise was led by E.ON (4.38%), Siemens (2.58%) and Daimler Truck Holding AG (2.18%). On the downside, the weakerst performers were Rheinmetall (-2.27%), SAP (-1.62%) and Qiagen NV (-1.33%).

The DAX 40 rose 0.9% on Friday, breaking above the 25,800 mark to set another record high and extend gains for a fourth straight session. Market sentiment remained positive, supported by fading expectations of further monetary tightening, optimism about the German reform package and hopes that the conflict in the Middle East could be resolved. Utilities, techs, autos, banks and industrials were the top performing sectors. Among the biggest gainers were E.ON (+4.2%) and Siemens (+2.6%) after Kepler Cheuvreux upgraded the stock to "Hold" from "Reduce". GEA added 1.9% after RBC upgraded the stock to "Outperform" from "Sector Perform." On the downside, Rheinmetall fell 2.3%, as the defense group assessed the impact of the German government's decision to cancel the F126 frigate project. The company warned that the revenue hit could reach up to €300 million this year unless mitigating measures are implemented. The index advanced 4.7% in the week.

The DAX 40 rose 0.8% on Friday, breaking above the 25,700 mark to set another record high and extend gains for a fourth straight session. Market sentiment remained positive, supported by fading expectations of further monetary tightening, optimism about the German reform package and hopes that the conflict in the Middle East could be resolved. Utilities, techs, autos, banks and industrials were the top performing sectors. Among the biggest gainers were E.ON (+2.6%) and Siemens (+1.8%) after Kepler Cheuvreux upgraded the stock to "Hold" from "Reduce". GEA added 1.6% after RBC upgraded the stock to "Outperform" from "Sector Perform." On the downside, Rheinmetall fell 1.5%, as the defense group assessed the impact of the German government's decision to cancel the F126 frigate project. The company warned that the revenue hit could reach up to €300 million this year unless mitigating measures are implemented. The index was set to book a weekly gain of over 4%.