The DAX Index Opens 0.87% Higher

Frankfurt's DAX 40 rose 0.7% on Friday, after touching two-month lows a day earlier, supported by easing geopolitical concerns after Trump ruled out a US attack on Iran before the November midterm elections, citing progress in talks to end the conflict. The remarks helped pull oil prices lower while bond yields also eased. Among top gainers, Zalando and SAP climbed more than 3% each. Heidelberg Materials (+2.6%) followed, buoyed by an upgrade by RBC. Telecommunications stocks were among the biggest laggards, with Deutsche Telekom falling over 6% as SpaceX’s spectrum acquisition raised concerns over increased competition for T-Mobile US, in which it holds a 54% stake.

The DAX Index is up by 216 points or 0.87 percent on Friday. Top gainers are SAP (3.15%), Zalando (3.09%) and HeidelbergCement (2.58%). Biggest losses came from Deutsche Telekom (-6.60%), Rheinmetall (-1.31%) and Infineon (-0.06%).

The DAX Index dropped 297 points or 1.18 percent on Thursday to close at 24807 points. Losses were led by Volkswagen (-4.01%), Fresenius (-3.92%) and Infineon (-3.36%).