The DAX closed 0.59% higher at 26,136.56 points on Friday, ending a four-day losing streak and reclaiming the psychologically significant 26,000-point level for the first time since August. The benchmark index trimmed its weekly decline to 1.2%. Technical momentum remained supported as the index held above its 21-day moving average, preserving the short-term uptrend.
The MDax, tracking mid-cap German companies, advanced 1.25% to 32,110.41 points, contributing to broader European gains. The Euro Stoxx 50 rose 0.63% to 6,462.22 points, while major non-eurozone benchmarks in Zurich and London also ended higher. U.S. markets followed suit, with the Dow Jones Industrial Average up 0.9% and the tech-heavy Nasdaq 100 entering positive territory.
Bond yields, a recent drag on equities, showed signs of stabilization, easing pressure on valuations. Markus Reinwand, analyst at Helaba, noted investors are still adjusting portfolios amid an improving global industrial cycle. The bank lifted its year-end DAX target to 27,000 points, citing expected tailwinds. Thomas Altmann of QC Partners attributed the recent pullback to seasonally low trading volumes, describing the market as "wait-and-see" with limited selling pressure.
Corporate updates provided mixed signals. Fielmann slumped 6.6% after cutting its annual guidance, citing weak German consumer sentiment and sending shares to their lowest level since spring 2023. CTS Eventim initially faced margin concerns in ticketing but recovered to gain 2.6%, with analysts at JPMorgan highlighting intact business momentum ahead of a capital markets day in November. Fresenius reduced its stake in dialysis provider FMC, triggering a 1.8% drop in FMC shares following the sale of €300 million worth of stock to institutional investors, while Fresenius itself ended higher.
Commodity-linked equities surged on reports of potential Chinese stimulus. Aurubis, Europe’s largest copper producer, rose 4%, but steelmakers outperformed, with Thyssenkrupp and Salzgitter jumping 5.6% and 8.2%, respectively. Analyst Ephrem Ravi at Citigroup raised Thyssenkrupp’s price target to €20, the highest on record.
China’s reported plans to bolster the economy with additional financial support, aimed at countering softer July data, provided a lift to global commodity markets. The move follows recent weakness in Chinese economic indicators and signals a shift toward more aggressive policy measures to stabilize growth.
