Stock market: Dax opens at a new record level – 27,000 point mark in focus

Strong balance sheets of important DAX stocks are driving the index to new heights at the start of trading. Within just one week, the DAX gained more than 1,000 points.

Dusseldorf. The leading German index started trading on Thursday with a new record level. The new all-time high is 26,941.83 points, more than 200 points above the previous high from last week. There was already an increase of 1.2 percent on Wednesday, and today there is another 0.8 percent.

This means that the Dax has more than overcome the several-day period of weakness caused by the global sales of tech stocks and has gained more than four percent and thus over 1,000 points within a week. On the one hand, this is because German technology stocks were less affected by the sell-off caused by AI concerns.

The balance sheets of the DAX companies, which have so far delivered predominantly positive surprises for the third quarter, are also driving up prices. On Thursday these include:

Siemens: The industrial group reports a record operating profit and the other key figures are also slightly above analysts' expectations. The share rose by three percent.

Munich Re: The world's largest reinsurer had to pay less than expected for major losses in the third quarter. The papers gain 1.4 percent.

Merck: Good business has allowed the pharmaceutical company to raise its forecast for the third time this year. The shares gain 1.8 percent.

After record results in the first nine months, Allianz is becoming more optimistic for 2026. The share price is up 1.6 percent.

Thomas Altmann, analyst at QC Partners, also sees the DAX strength as a confirmation of the long-term seasonal trend in the index: If you evaluate all past DAX years, then “November is on average the best of all months,” he says.

Oil and gas prices rose slightly for the second day in a row. Brent crude oil from the North Sea for delivery in January rose in price on Thursday by 0.6 percent to $93.30 per barrel (159 liters). US oil WTI was also higher. The reference price for natural gas in Europe rose by a good two percent.

Strategists see questions in the market as the most important factor for price developments as to the extent to which Iran will respond to US demands in order to reach a diplomatic agreement. “There has been an increase in attacks on ships in Gulf sea lanes,” warned June Goh, senior analyst at Sparta Commodities.

In the afternoon, investors will turn their attention to the USA. In addition to new data on applications for unemployment assistance, it will be shown how the new developments surrounding Nvidia boss Jensen Huang affect Nvidia shares and those of the entire industry.

The board of directors is reportedly discussing his expulsion after more of Huang's affairs came to light. After trading, the shares had already lost more than eight percent.