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Price chart on the Frankfurt Stock Exchange
Photo: Boris Roessler / dpa
The Dax rose to a new record high on Friday. With a gain of 0.8 percent, the German benchmark index left its previous record from 2021 behind, it now stands at 16,292 points.
After weeks of skirmishes below the round mark of 16,000 points, momentum returned to the German stock market at the end of the week. The trigger is cautious optimism about progress in the dispute over an increase in the debt ceiling in the United States.
Positive signals from China
The old Dax record of around 16,290 points dates back to November 2021, before Russia's war against Ukraine and rising key interest rates as a result of high inflation dragged down stock markets worldwide in 2022. Since autumn 2022, however, things have been running smoothly again, and the Dax has recovered strongly since the September slide to almost 12,000 points.
This was also due to economic optimism following the end of China's harsh corona restrictions before the turn of the year. Although the Chinese economy, an important driving force of the global economy, is still faltering, especially in industry, there have recently been more positive signals.
mic/Reuters/dpa-AFX