Market report: DAX starts with profits

The DAX rose by 0.4 percent to 25,492.07 points in the first minutes of trading. The MDAX with the medium-sized stock exchange groups gained almost one percent to 30,497.63 points.

The day before, losses in AI stocks had also depressed sentiment here. However, the leading German index was comparatively unimpressed by this. This is primarily due to its composition: Unlike the major US indices, the DAX is dominated more by companies from traditional sectors. These include industrial, chemical and automotive companies.

The recent price losses in the technology sector were triggered by concerns that billions of dollars in investments in artificial intelligence might not pay off as quickly as hoped.

Large technology companies are investing significant amounts of money in data centers, powerful chips and the development of new AI applications. However, the question is growing on the stock exchanges as to when and to what extent these expenses will actually bring in additional income and profits.

The head of the US Federal Reserve, Kevin Warsh, attaches great importance to technology for the global economy.

"I would say the emergence of this new technology is probably the most significant change to the US and global economy in my lifetime," the 56-year-old said at an event at the annual meeting of the International Monetary Fund (IMF) and the World Bank in Bangkok, Thailand.

Warsh also sees potential for the work of central banks. Artificial intelligence could help to better evaluate economic data and assess developments more precisely.

In addition to the technology sector, Commerzbank is also coming into focus. The major Italian bank UniCredit says it has received the green light from the European Central Bank to further expand its stake in the Frankfurt financial institution. The approval allows it to exceed the threshold of 30 percent of the capital and further increase its share beyond that

UniCredit described the decision as an important milestone on the way to a takeover of Commerzbank. The approval creates further regulatory requirements for the Italian bank's plans. However, it does not mean that a takeover has already been decided or completed.

The development is causing movement on the stock market. Commerzbank shares rose on Friday morning. Investors initially seem to react positively to the decision. The decisive factor for the further development of the price will now be, among other things, how UniCredit concretizes its plans and what the future of the German institute looks like.