{
  "id": 75946,
  "title": "Shares: Dax reaches record high – and benefits from its exceptional position",
  "url": "https://urgent.news/2026/08/03/aktien-dax-erreicht-rekordhoch-und-profitiert-von-seiner",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-03T08:13:40.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/finanzen/maerkte/aktien/aktien-dax-erreicht-rekordhoch-und-profitiert-von-seiner-ausnahmestellung/100244253.html"
  },
  "original_language": "de",
  "account": "The German benchmark index Dax has reached a new record high at the start of the week. The index rose by more than 1.3 percent to as much as 25,984 points on Monday morning. This way, the Dax exceeded the previous record value of 25,900 points from early July after four weeks and approached the mark of 26,000 points. With its record, the German benchmark index stands out from other major stock markets worldwide, which are sometimes significantly below their highs. German stocks also benefit from the fact that investors are increasingly skeptical about tech stocks worldwide.\n\nEspecially in the case of the previously rapidly rising stocks of chip manufacturers, there was a sell-off recently, before the stock market sentiment turned again at the end of last week. The tech-heavy US index Nasdaq lost more than three percent in July, while the broader benchmark index S&P 500 ended up with a 0.1 percent loss. For Japan's benchmark index Nikkei, the losses amounted to around eight percent. The South Korean index Kospi, dominated by the two semiconductor stocks Samsung and SK Hynix, lost 22 percent despite a recovery on Friday.\n\nWeak sectors are recovering. In contrast, the Dax gained 2.5 percent in July. European stocks also recorded price gains and rose by around one percent in July, measured by the broad Stoxx Europe 600 index. The fact that German stocks are in demand right now is also due to the fact that the index is less dependent on tech stocks than the US market, for example. The IT sector currently accounts for around 14 percent in a large exchange-traded fund (ETF) for the Dax - less than half as much as in an ETF for the S&P 500.\n\nJoachim Schallmayer, head of capital market strategy at the savings bank securities subsidiary Dekabank, says: \"A significant correction in semiconductor stocks has put pressure on both Asian and tech-heavy US stock markets in recent weeks.\" The Dax is hardly represented in these segments and has thus been able to assert itself relatively well.\n\nAndreas Hürkamp, stock strategist at Commerzbank, also explains the Dax's development with the low proportion of chip stocks. \"In July, the Dax's relatively low exposure to semiconductor stocks, which corrected significantly in some cases, benefited it in international comparison,\" he writes. The semiconductor sector is only represented in the Dax by Infineon.\n\nThe Commerzbank strategist also points to the software sector, which was still weak in the first half of the year. Some software stocks have reacted to the presentation of quarterly figures with relief and price gains. SAP, Europe's most important software company, whose stock accounts for more than nine percent of the Dax after Siemens, gained almost 18 percent in July. SAP had presented quarterly results last week and apparently convinced investors.\n\nIn July, the stocks of the battered car manufacturers also gained. Mercedes and VW each rose by more than six percent, BMW by more than three percent. The record high for the German benchmark index was also helped on Monday by the fallen oil price. US President Donald Trump had called off a new wave of attacks on Iran over the weekend. As a result, the price of a barrel of the North Sea Brent crude oil fell by five percent to less than $84 on Monday.\n\nAccording to Jochen Stanzl, analyst at Consorsbank, the failed attacks on Iran caused the oil price to fall and the German benchmark index to rise. \"A prospectively falling oil price favors the cyclical and energy-dependent industry in the Dax,\" Stanzl writes in an analysis on Monday morning.\n\nThe composition of the Dax also explains the comparatively weak price development this year. Since the beginning of 2026, the German benchmark index has disappointed in international comparison. Overall, it gained around six percent, while the S&P 500 rose by more than nine percent. In the first half of the year, many tech and semiconductor stocks had still driven the international stock markets significantly higher.\n\nIn an honest comparison of the stock market indices, the Dax looks even worse. This is because, unlike many other indices, the Dax includes dividends. Measured purely by price gains, the Dax has only gained around three percent this year and is still just below its record high, which it had marked with 9449 points shortly before the start of the Iran war.\n\nCommerzbank strategist Hürkamp still sees a good chance that the Dax will continue to catch up with the MSCI World in the coming months. This would be the case if the sentiment in the semiconductor sector \"remains less euphoric\" and the stabilization in the software and automotive sectors continues.",
  "summary": "The German benchmark index reached a new all-time high on Monday. Two sectors that had recently been struggling also helped to achieve this.",
  "key_points": [
    "Dax index hits record high at 25,984 points on Monday",
    "German stocks benefit from low exposure to tech sector",
    "Oil price drop due to canceled Iran attack boosts Dax"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Handelsblatt",
        "title": "Shares: Dax breaks 26,000-point mark – benchmark index benefits from its exceptional position",
        "url": "https://urgent.news/2026/08/03/aktien-dax-knackt-marke-von-26-000-punkten-leitindex-profitiert-von",
        "published": "2026-08-03T09:56:18.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}