DAX hits record high as U.S. rally boosts German stocks
German stocks closed at a new high on Friday, with the DAX index rising by 1.2 percent. The surge came as U.S. markets also hit fresh records, lifting investor confidence. Meanwhile, currency markets saw the euro dip slightly against the dollar ahead of the Pentecost weekend. The DAX reached 24,889 points, marking its strongest performance in weeks. Deutsche Post and Symrise led the gains, each climbing around 4 percent. Infineon stood out with shares jumping over 8 percent, despite no immediate plans for new production sites.
Not all stocks fared well. Fresenius shares fell by roughly 3 percent after trading ex-dividend. Vonovia experienced an even sharper decline, dropping over 5 percent for the same reason. In currency markets, the euro weakened to $1.1602, while a dollar bought €0.8619. Former U.S. President Donald Trump noted the market rally on his Truth Social platform, calling it a 'New Stock Market Record'. German exchanges will remain open on Monday, despite the public holiday.
The DAX closed at a record high before the long weekend, driven by strong U.S. market performance. Some stocks, however, faced declines due to ex-dividend trading. Currency movements remained modest, with the euro losing slight ground against the dollar.
