The DAX Index Closes 0.01% Lower

Frankfurt's DAX 40 pared early gains to close almost flat at 23,804 on Friday, following yesterday's decline, as investors eyed weekend talks between the US and Iran following a two-week ceasefire agreement. US and Iranian delegations are set to meet in Pakistan on Saturday, while Israel has agreed to hold talks with Lebanon’s government, raising hopes of de-escalation in the region. At the same time, Bloomberg reported that Ukraine and Russia are moving toward a potential deal to end the war, citing a senior aide to President Volodymyr Zelenskiy. Among single stocks, Heidelberg Materials led the way, rising 3.7%, followed by BASF (2.2%); BMW (1.8%), Siemens (1.7%) and Siemens Healthineers (1.7%). On the flip side, Rheinmetall (-5.9%) emerged as the biggest laggard amid hopes for resolution to major global conflicts. For the week, the index advanced by 2.7%.

The DAX Index decreased -3 points or 0.01 percent on Friday to close at 23804 points. The decline was led by Rheinmetall (-5.60%), Zalando (-1.71%) and Hannover Rueck (-1.66%). On the upside, the strongest performers were HeidelbergCement (3.17%), BASF (2.09%) and BMW (1.77%).

Frankfurt's DAX 40 rose 0.4% to around 23,900 on Friday, following yesterday's decline, supported by cautious optimism ahead of weekend US-Iran talks, despite signs of ceasefire fragility. Drone attacks were again reported in Kuwait, Israel continued strikes in Lebanon while agreeing to talks, and the Strait of Hormuz remained largely closed. Meanwhile, investors eyed economic data, with inflation figures in focus. Germany’s inflation rate was confirmed at 2.7% in March, its highest level since January 2024, driven largely by a sharp rise in energy prices. Techs were among the top performers following better-than-expected revenue from chip giant TSMC. Siemens and Infineon gained more than 2% each. Adidas rose 0.9% after Citigroup reiterated its buy recommendation for the sporting goods company's stock. On the downside, Rheinmetall slipped 6.1%, while RWE and E.ON saw losses of over 1%. The index was poised for a weekly gain of over 3%.