Stock exchange: Dax scratches 27,000-point mark
Strong balance sheets of important Dax companies drive the index to new heights at the start of trading. Within just one week, the Dax has gained more than 1000 points.
The German benchmark index, Dax, has started trading on Thursday with a new record high of 26,998.32 points, up over 300 points from the previous week's high. This marks a recovery from a multi-day weakness period caused by global tech stock sales, with the index now up over 5% or 1,300 points in a week. Several Dax companies, including Siemens, Munich Re, Merck, and Allianz, reported positive quarterly results, contributing to the index's gains.
Siemens' shares rose 4% after the company announced a record operating profit, while Munich Re's shares gained 1.8% and Merck's 2.6%. Allianz's shares were up 2.1% after the company reported a record result for the first nine months.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
