The DAX Index Closes 1.76% Higher

The DAX Index went up by 426 points or 1.76 percent on Friday to close at 24635 points. The rise was led by Deutsche Bank (6.60%), HeidelbergCement (4.73%) and Siemens Energy (4.48%).

The DAX 40 finished about 1.8% firmer at 24,613 on Friday, the biggest daily gain since May 25, in line with European and US peers. Market sentiment was buoyed by expectations that a peace agreement between the US and Iran may finally be reached and enthusiasm surrounding the SpaceX IPO and its market debut. President Trump had canceled his planned attacks on Iran, scheduled for Thursday evening, and touted that a peace deal could be reached as soon as this weekend, pushing oil prices lower. Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi said on X that a US memorandum of understanding “has never been closer,” but added it is still too early for details as talks continue. Most sectors recorded gains, led by banks, techs, travel stocks and energy-sensitive industrials. Deutsche Bank led the way, surging 6.3%, with Commerzbank adding 2.9%. Heidelberg Materials (5.1%), Siemens Energy (4.1%) and Infineon Technologies (3.6%) followed closely. For the week, the index shed 0.6%.

The DAX 40 jumped nearly 2% to near 24,700 on Friday, the biggest daily gain since May 25, in line with other European peers, amid hopes for an end to the Iran war. Oil prices declined after President Trump had canceled his planned attacks on Iran, scheduled for Thursday evening, and once again said that a peace deal was imminent. Attention also turned to the anticipated SpaceX IPO, which could become one of the largest in history. Banks, travel stocks, energy-sensitive industrials and automakers advanced strongly. Deutsche Bank climbed over 5% and Commerzbank advanced more than 3%. Airline Deutsche Lufthansa surged 3% and tourism operator TUI gained around 4.5%. Heidelberg Materials, Airbus, MTU Aero Engines, Siemens Energy, Siemens, Volkswagen and Mercedes-Benz Group were also among the top performers, rising between 2%-5%. On the flip side, laggards included defence names such as Rheinmetall (-1%) and chemical firms including Brenntag and BASF (-0.8%).