Frankfurt’s DAX gained further ground, closing about 1.6% firmer at 24,033 on Friday, its highest since June 9, in line with European and global peers. The rally was supported by progress on the trade front, including the US-China agreement and the potential delay of tariff implementation on Europe. Meanwhile the Iran-Israel truce holds and diplomatic efforts continue behind the scenes to bring Tehran back to the negotiating table. On the corporate front, gains were broad-based, led by autos. Porsche topped the index with a 7.6% surge, followed by Daimler Truck Holding, BMW, Mercedes Benz Group, Continental and Volkswagen, with gains ranging between 3.9% and 6.1%. Retailers, techs, pharma stocks and materials also advanced firmly. For the week, the index advanced nearly 3%.
