The DAX Index Opens 0.74% Higher

The DAX 40 rose 0.6% 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%.

The DAX Index is picking up 188 points or 0.74 percent on Friday. Gains are led by E.ON (2.59%), HeidelbergCement (2.00%) and Airbus (1.86%). Biggest losers are Rheinmetall (-2.04%), SAP (-1.23%) and Qiagen NV (-0.94%).

The DAX Index rose 541 points or 2.16 percent on Thursday to close at 25581 points. Leading the gains are Bayer (8.90%), Rheinmetall (6.80%) and Deutsche Bank (5.31%).