Agency Report –
Germany’s leading stock market index, the DAX, reached a record high on Thursday.
The index rose to 24,698 points shortly after opening, before dropping back slightly.
According to the bank Helaba, the DAX received tailwinds from Wall Street, where the S&P 500 and the NASDAQ 100 set new records on Wednesday. Japan’s leading Nikkei index also topped its previous high.
Analysts said the DAX may have been boosted by the prospect of interest rate cuts in the United States, which could make shares more attractive than fixed-interest securities.
Signs of a solution to the French political crisis may have encouraged investors, while technology stocks have also continued to soar over confidence in artificial intelligence (AI).
The rise also came one day after the German government forecast economic growth to hit 1.3% next year, up from the previous 1% estimate.
