DAX Joins Global Rally

2026-11-04 17:18 By Luisa Carvalho 1 min. read

Frankfurt’s DAX 40 surged 2.2% to close at 26,438 on Wednesday, approaching its August record highs and ranking among Europe's top performers.

The rally was driven by improved global risk sentiment following the Democrats’ unexpectedly decisive US midterm victory and hopes of de-escalation in the US-Iran conflict, which sent oil prices sharply lower.

Most sectors advanced, led by banks as bond yields fell, with Deutsche Bank and Commerzbank gaining 7.7% and 4.8%, respectively.

Heidelberg Materials climbed over 9% after reporting better-than-expected Q3 2026 results and raising its cost-efficiency targets.

Continental gained 5.2% after raising its 2026 margin and cash flow targets following upbeat Q3 results.

In contrast, technology stocks lagged amid concerns over reduced AI data-centre investment.

Defence stocks also came under pressure, with Rheinmetall dropping 3%, amid concerns over the potential impact of US political shifts on defence spending and European investment.



News Stream
DAX Joins Global Rally
Frankfurt’s DAX 40 surged 2.2% to close at 26,438 on Wednesday, approaching its August record highs and ranking among Europe's top performers. The rally was driven by improved global risk sentiment following the Democrats’ unexpectedly decisive US midterm victory and hopes of de-escalation in the US-Iran conflict, which sent oil prices sharply lower. Most sectors advanced, led by banks as bond yields fell, with Deutsche Bank and Commerzbank gaining 7.7% and 4.8%, respectively. Heidelberg Materials climbed over 9% after reporting better-than-expected Q3 2026 results and raising its cost-efficiency targets. Continental gained 5.2% after raising its 2026 margin and cash flow targets following upbeat Q3 results. In contrast, technology stocks lagged amid concerns over reduced AI data-centre investment. Defence stocks also came under pressure, with Rheinmetall dropping 3%, amid concerns over the potential impact of US political shifts on defence spending and European investment.
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