The DAX Index Opens 0.17% Lower

Frankfurt's DAX 40 turned slightly positive on Friday, breaking above the 26,800 mark to hit a fresh record, as optimism over the earnings season offset concerns about inflation and potential interest rate hikes. Meanwhile, investors continued to assess the potential implications of Nvidia CEO Jensen Huang's reported resignation for the broader technology sector. Utilities and insurers were among the top performers, while aerospace and defence stocks and tech companies lagged. Brenntag surged over 2% to the top of the index. E.ON (+1.5%) and RWE (+0.8%) were boosted by reports that the German government plans to acquire their combined one-third stake in nuclear UK-based company Urenco. Meanwhile, Mercedes-Benz Group announced on Thursday that it would halt all new investment at its German facilities for the time being, while also considering potential plant closures. On the losing side, Rheinmetall (-2.1%), Vonovia (-1.2%) and MTU Aero Engines (-1.1%) were the worst performers.

Frankfurt's DAX 40 edged down 0.3% to trade below 26,700 on Friday, as profit booking emerged after a four-day rally that sent the index to record highs. Meanwhile, market sentiment remained cautious amid rising oil prices and bond yields, which fuelled inflation concerns and expectations of tighter monetary policy, offsetting optimism over strong corporate earnings. Attention also remained focused on Nvidia, as investors assessed the potential implications of CEO Jensen Huang's reported resignation for the broader technology sector. Siemens (-2.2%) led losses among stocks, followed by Infineon Technologies (-1.8%) and MTU Aero Engines (-1.7%). Mercedes-Benz Group was slighlty lower after announcing on Thursday that it would halt all new investment at its German facilities for the time being, while also considering potential plant closures. On the upside, E.ON (1.4%), Symrise (1.2%), Brenntag (1.1%), Hannover Re (1%) and Munchener Re (1%) advanced the most.

The DAX Index is dropping 46 points. Leading the losses are Siemens (-1.89%), Infineon (-1.67%) and Rheinmetall (-1.60%). Top gainers were E.ON (1.23%), Symrise (1.16%) and Siemens Energy (0.94%).