The DAX Index Closes 0.56% Higher

The DAX Index went up by 142 points or 0.56 percent on Friday to close at 25409 points. The rise was led by Adidas (2.99%), Commerzbank (2.73%) and Deutsche Bank (2.68%). On the downside, the weakerst performers were BASF (-3.59%), BMW (-1.31%) and Rheinmetall (-1.07%).

Frankfurt's DAX 40 closed about 0.5% firmer at 25,396 on Friday, halting a two-day losing streak and booking a 0.4% weekly gain. Optimism surrounding a potential peace agreement to reopen the Strait of Hormuz pushed oil prices lower, although uncertainties persisted. Meanwhile, the US-China talks secured a two-month extension of the fragile trade truce ahead of its November expiry, marking the biggest achievement so far. However, little progress was made on other key issues, including AI, Iran and Taiwan. On the domestic data front, German consumer sentiment weakened more than expected heading into October. Most sectors recorded gains, led by banks, travel-related srocks, tech and industrials. Adidas led gains among stocks, surging about 3%, after Metzler Capital Markets reaffirmed its 'buy' rating. Bank stocks were also in strong demand, with Commerzbank and Deutsche Bank rising around 2.7% each. Conversely, BASF fell 3.6% after Evonik confirmed talks on a potential takeover.

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%.