The DAX Index Closes 1.13% Higher

Frankfurt's DAX 40 gained ground to close about 1.1% firmer at 25,102 on Friday, reversing a two-day decline that sent the index to the lowest in two months. Investor sentiment improved after President Trump ruled out a US attack on Iran before the November midterm elections, citing progress in talks to end the conflict. His remarks pushed oil prices lower and eased pressure on the bond market. Meanwhile, caution prevailed amid persistent tensions in the Gulf. Software giant SAP was the top performer, rising 3.8%, followed by Zalando (3.2%) and Bayer (3.2%). Siemens, BMW, Deutsche Post and Adidas, Fresenius Medical Care and Siemens Energy also advanced firmly, each adding over 2%. On the downside, Deutsche Telekom plunged nearly 8% as SpaceX’s spectrum acquisition raised concerns over increased competition for T-Mobile US, in which it holds a 54% stake. For the week, the index lost about 0.5%.

The DAX Index rose 280 points or 1.13 percent on Friday to close at 25087 points. Leading the gains are Zalando (4.69%), SAP (3.91%) and Siemens (2.95%).

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.