The DAX Index Closes 0.77% Higher

The DAX Index went up by 203 points or 0.77 percent on Friday to close at 26570 points. The rise was led by BMW (4.50%), Volkswagen (3.23%) and Mercedes-Benz AG (2.96%). On the downside, the weakerst performers were Rheinmetall (-1.85%), Scout24 (-1.05%) and Fresenius (-0.75%).

The DAX 40 extended early gains, rising 0.8% to close at a fresh record high of 26,570 on Friday, buoyed by autos stocks, while traders assessed Fed Chair Warsh's speech at the Jackson Hole Economic Symposium. Kevin Warsh struck a hawkish tone, noting that inflation remains elevated and has yet to make enough progress toward the 2% target. His remarks left the door open to tighter policy if inflation does not show clearer signs of easing. Meanwhile, lower oil prices and tech optimism continued to support market sentiment, with traders also monitoring developments in the Middle East. Auto stocks continued their strong upward trend ahead of the weekend. BMW shares led the index, gaining over 4% and benefiting from a more positive outlook from Citigroup. VW and Mercedes Benz Group climbed over 2% each. Utilities, chemical companies, banks, insurers and software firms also posted gains, while chipmaker Infineon Technologies lost ground (-0.6%). The index recorded a weekly rise of 1.7%.

DE40 increased to an all-time high of 26581.00 Index Points. Over the past 4 weeks, Germany Stock Market Index (DE40) gained 4.38%, and in the last 12 months, it increased 11.19%.