The DAX Index Opens 0.78% Higher

Frankfurt's DAX 40 rose 0.6% to cross 25,400 on Friday, supported by falling oil prices and lower government bond yields amid renewed hopes of a resolution to the Iran conflict. Sentiment was buoyed by speculation about a phased agreement between the US and Iran to reopen the Strait of Hormuz. Meanwhile, the extension of the trade truce between the US and China until January, agreed at the Trump-Xi summit reduces the risk of an immediate escalation. On the economic data front, German consumer sentiment weakened more than expected heading into October, with higher energy prices weighing on households’ income expectations. Most sectors traded in the green, led by banks, tech and travel-related stocks. Commerzbank and Deutsche Bank gained 2.4% and 2%, respectively, ranking among the top performers. Adidas, Siemens Energy, Deutsche Lufthansa, TUI, Siemens and Infineon Technologies also advanced solidly, rising between 1.3% and 2.1%. For the week, the index was on track to advance 0.4%.

The DAX Index is picking up 198 points or 0.78 percent on Friday. Gains are led by Commerzbank (2.31%), Adidas (2.28%) and Siemens Energy (2.11%). Biggest losers are Airbus (-1.51%), Porsche Automobil (-0.39%) and BASF (-0.34%).

The DAX Index fell 144 points or 0.57 percent on Thursday to close at 25267 points. Leading the losses are Infineon (-4.25%), Rheinmetall (-3.19%) and Volkswagen (-2.77%). Top gainers were Beiersdorf (2.98%), Munich RE (1.79%) and Hannover Rueck (1.74%).