DAX Climbs 0.81% As European Markets Rally On Tech Recovery
(RTTNews) - German stocks advanced Friday as major European markets benefited from easing concerns about artificial intelligence spending, bolstered by strong earnings from technology companies.
The DAX benchmark index climbed to 25,891.28, gaining 207.72 points or 0.81% to reach 25,788.22 by midday trading.
Infineon Technologies led gainers with a 6% advance. Siemens Energy rose 3.2%, while RWE and Hochtief each gained approximately 2.5%. Airbus added nearly 2%.
MTU Aero Engines, Merck, Siemens, Commerzbank and Rheinmetall posted gains ranging from 1.2% to 1.7%. Fresenius Medical Care, E.ON, Allianz and Deutsche Boerse recorded modest increases.
Decliners included Symrise, Gea Group, Scout24 and Deutsche Telekom, which fell 2% to 2.5%. Heidelberg Materials lost nearly 2%.
Qiagen, Brenntag, Volkswagen, BMW, Adidas, Beiersdorf and Zalando declined 0.5% to 0.9%. Puma dropped approximately 6% due to lower second-quarter sales. Hensoldt, a sensor and radar manufacturer, fell about 2.7% following profit-taking after recent gains.
Germany's seasonally adjusted unemployment rate rose to 6.4% in July from 6.3% in June, exceeding expectations of 6.3%.
Eurozone inflation increased in July, reaching 2.9% from 2.8% in June, according to flash data from Eurostat. Rising energy and services costs drove the increase, which aligned with market expectations. Core inflation, excluding energy, food, alcohol and tobacco, rose to 2.5% from 2.4% previously. The harmonized index of consumer prices climbed 0.2% on a monthly basis in July.
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