As of: February 23, 2024, 6:08 p.m
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The Dax is the most important stock index in Germany.
© Fredrik von Erichsen/dpa
At the end of a strong stock market week, the Dax reached another high on Friday.
The ongoing hype about artificial intelligence (AI) and Nvidia's strong quarterly figures in the middle of the week continue to resonate.
After an initially leisurely first half of trading, record high US stock markets again provided a new boost in this country from the afternoon onwards.
Frankfurt/Main - With a record of 17,443.74 points, the German leading index climbed a few points above the level reached the previous day; at the close of trading the increase was still 0.28 percent to 17,419.33 points.
This brings the weekly balance in the leading index to just under 1.8 percent - the highest gain since the end of January.
Konstantin Oldenburger from CMC Markets expects the winning streak to continue: “The DAX is heading towards its next intermediate target, the 17,500 mark.
Like a chart textbook, he is using the foundation that he has built in weeks of consolidation around 17,000 points as a springboard for the next sound barrier with the number 18 before the thousand point." But the expert also warned of the large discrepancy "between “the economic reality in Germany” and a stock market at record levels.
“For now, however, the ongoing enthusiasm for artificial intelligence is pushing the stock market higher.”
At the end of the week, the quarterly reports from the DAX heavyweights Allianz, BASF and Deutsche Telekom attracted attention in this country - all three stocks fell, in some cases significantly.
This was offset by further price gains, especially in the automotive sector.
The leader in the leading index was Rheinmetall.
The MDax of medium-sized stocks, however, lost 0.38 percent to 25,999.48 points on Friday, with high price losses at the defense company Hensoldt weighing on it.
dpa