Leading index: Optimism on the stock market - DAX above 27,000 points for the first time

Frankfurt. The Dax rose above 27,000 points for the first time. The leading German index temporarily reached 27,001.67 points on Thursday morning. This means that the stock market barometer has temporarily increased by more than 10 percent since the beginning of the year. However, the soaring was then significantly slowed down. In the end, the DAX ended trading with an increase of 0.41 percent to 26,771.88 points - and increased for the fourth day in a row.

Hopes for peace in the war between the USA and Iran initially created a good mood on the stock market - and the associated prospect of falling oil prices. In addition, the technology sector has recently strengthened again because fears of too strict regulation of the AI ​​sector have eased somewhat. US President Donald Trump then dampened hopes for peace. There is no need for a deal with Iran, he said.

“Investors are still in a balancing act between record fantasy and the risk of setbacks,” said Andreas Lipkow, chief market analyst at broker CMC Markets. The respect for the 27,000 point mark currently seems to be greater than the confidence in being able to overcome it sustainably: “A real year-end rally looks different.”

The resignation of Jensen Huang from the top position of the AI ​​chip giant Nvidia after affairs caused some additional uncertainty. But even on the US technology exchange Nasdaq, which was particularly affected by this, prices have recently calmed down again.

Strong company figures from Germany had driven up the prices, for example from Siemens and Allianz. The big finale of the quarterly reporting season for companies in this country is on Thursday. The economic environment is brightening, wrote analyst Jochen Stanzl from Consorsbank.

The reinsurer Munich Re was the DAX leader with a share price increase of 2.9 percent. Despite significantly higher losses from natural catastrophes, insured major losses in the third quarter remained below expectations.

After record results in the first nine months, Allianz became more optimistic for 2026, which the shares rewarded with an increase of 1.9 percent to a record high. Brilliant business with investment funds allowed the insurer to absorb high losses from natural disasters.

Siemens shares rose by 1.7 percent, but just missed a record. The technology group exceeded analysts' forecasts in the strong past financial year and raised its medium-term goals.

In contrast, shares in Merck KGaA slipped 2.3 percent into the red. The pharmaceutical and technology group announced at the conference call on the current quarterly figures that it would discontinue the development of the experimental heart drug pelacarsen after disappointing clinical trial data from a similar drug from competitor Novartis.

After a record high, the shares of DAX bottom-placer Gea ultimately fell by 4.3 percent. The change in mood was caused by the news that company director Stefan Klebert will resign from his position at the end of April next year at his own request and in agreement with the supervisory board.

Freenet took first place in the MDax with a price increase of 2.6 percent. A dealer attested to the mobile phone provider's solid figures for the first nine months of the year. At Ströer, the digital outdoor advertising business resulted in a good quarter and a share price increase of 1.8 percent.

The leader in the small cap index SDax was the real estate company Patrizia with a price jump of 23 percent to 7.79 euros. However, the share price remained well below the 8.20 euros per Patrizia share offered by major shareholder First Capital Partner. At the leasing specialist Grenke, the quarterly figures resulted in a recovery of 8.8 percent.

In contrast, the stocks from the bottom of the index, Secunet, fell by around 17 percent. The IT security company failed to meet investors' high expectations with its current business figures. Investors in the prosthesis manufacturer Ottobock had to cope with a share price slide of almost 17 percent and a record low.

The Eurozone leading index EuroStoxx 50 rose by 0.1 percent. Things picked up a little more clearly in London and Zurich. The US leading index Dow Jones Industrial gained 0.2 percent at the end of European trading. The technology stocks index Nasdaq 100 also recently made moderate gains after a weak start.