DAX Finishes at Over 2-Week High

Frankfurt's DAX 40 rose further to close about 1.2% firmer at 24,889 on Friday, the highest in over two weeks, driven largely by tech momentum and some hopes for a breakthrough in US-Iran talks. On the data front, German consumer sentiment improved slightly heading into June, defying expectations of a further decline, as did business sentiment, despite remaining near multi-year lows. Infineon Technologies led gains among stocks, surging over 7%. Deutsche Post (+3.9%) also saw strong buying after Deutsche Bank upgraded the stock to “buy” from “hold.”. Puma and Adidas advanced 5.9% and 2.4%, respectively, following strong results from US rival Deckers Outdoor, with World Cup expectations also playing a role. Top losers included Vonovia (-5.3%) and Fresenius Medical Care (-3.9%). For the week, the index advanced roughly 4%.

The DAX Index went up by 282 points or 1.15 percent on Friday to close at 24889 points. The rise was led by Infineon (8.46%), Deutsche Post (4.47%) and Symrise (3.53%).

Frankfurt’s DAX 40 rose 0.8% toward 24,800 on Friday and was set for a 3.5% weekly gain, supported by tech strength, positive economic data, and hopes for a negotiated Iran resolution. German consumer sentiment improved slightly heading into June, defying expectations of a further decline, as did business sentiment, despite near multi-year lows. Meanwhile, US Secretary of State Marco Rubio cited “some encouraging signs” of a potential agreement, while Iranian Foreign Ministry spokesman Esmaeil Baqaei confirmed ongoing Iran–U.S. talks mediated by Pakistan on ending hostilities “on all fronts, including Lebanon.” However, the Strait of Hormuz remains closed, and oil prices are pushing higher again. Tech outperformed, with Infineon Technologies gaining over 4%, while Adidas and Puma rose more than 2% each after strong results from US rival Deckers Outdoor. Deutsche Post added 3.7% after Deutsche Bank upgraded the stock to “buy” from “hold.”