Overview
- The DAX climbed to a new record near 26,430 on Friday as gains in Infineon, Siemens and Siemens Energy offset weakness in auto stocks and SAP.
- An unexpected fall in US payrolls of about 23,000 lowered expectations for further Fed rate hikes, which boosted European equities and US futures.
- Geopolitical tensions in the Middle East pushed oil prices higher and kept investors cautious, contributing to volatile sector moves during the week.
- Company results drove idiosyncratic swings: Daimler Truck reported a steep drop in EPS and its shares fell sharply while Munich Re and Allianz produced mixed reactions.
- A DRC order banning copper and cobalt concentrate exports lifted copper prices, highlighting supply risks for the energy transition and a channel for commodity shocks to hit markets.