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The main index of the Frankfurt Stock Exchange, DAX, exceeded the threshold of 18,000 points for the first time yesterday, after a steady advance in recent days, registered despite the difficulties faced by the German economy.
At the opening of yesterday's stock market session, the DAX index, which includes the first 40 German companies by market capitalization, reached the level of 18,000.42 points. Most companies included in the DAX have significant operations abroad, particularly in the United States, and are less dependent on the German market, according to dw.com. Among the globally recognized companies included in the DAX are Volkswagen, Bayer, BMW and Adidas.
The Federal Statistical Office in Berlin (Destatis) announced that Germany's Gross Domestic Product (GDP) fell by 0.3% in the last quarter of 2023. However, in January 2024, Europe's largest economy recorded an advance, German companies benefiting from a 6.3% increase in the value of exported goods.
We mention that the stock markets are supported by the figures on the dynamics of the US economy and by the optimism of investors regarding the evolution of artificial intelligence (AI). The data showing a faster fall in inflation in the euro area also have an influence, which fuels the prospects that the ECB will start cutting interest rates sooner.
The DAX index of the Frankfurt market reached 17,962.97 points at 16:48 local time, a level 0.01% lower than at the close of the previous day.
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