Stock exchange: Dax crosses the 27,000-point mark for the first time
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 27,001.67 points, surpassing the previous week's high by over 300 points. This marks a recovery from a multi-day weakness period caused by global tech stock sales, with the index gaining over 5% and 1,300 points within a week. Several Dax companies, including Siemens, Munich Re, Merck, and Allianz, have reported positive quarterly results, contributing to the index's strength.
Siemens reported a record operating profit, while Munich Re, Merck, and Allianz also saw gains after releasing their quarterly results. Analyst Thomas Altmann of QC Partners notes that the Dax's strength confirms a long-term seasonal trend, with November historically being the index's best month.
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.
