The DAX started the day stronger and continued to post gains as the day progressed. The DAX marked a new record high at 16,331.94 points. Finally, the leading German index was 0.69 percent higher at 16,275.38 points at the weekend TecDAX opened higher and closed the last trading day up 0.71 percent at 3,286.40 units.
With a level of around 16,331 points, the leading German index exceeded its previous high from 2021. After a lengthy phase of sideways movement below the round mark of 16,000 points, cautious optimism about progress in the dispute over raising the US debt limit, which is required for the Averting an impending insolvency of the USA is essential, new impetus in the German stock market. The White House had announced “steady progress” here. Predominantly positive signals came from the USA and Asia. This is also likely to have carried the German stock market further up.
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The EURO STOXX 50 started trading marginally higher, then continued to climb and ended Friday trading 0.64 percent higher at 4,395.30 points.
The positive signals from the USA and Asia also created a good atmosphere in Europe. In particular, the hope that the dispute over the US debt ceiling could soon be resolved brought relief to European investors.
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The Dow Jones index lost 0.33 percent at the end of the session to close at 33,462.63 points, while the tech-heavy NASDAQ Composite also had to accept losses and ultimately fell 0.24 percent to 12,657.90 points.
After a good start, the US stock exchanges ended Friday trading a little easier. After things had gone up sharply on the two previous days, some players apparently took a breather. The fact that negotiations between Democrats and Republicans on the debt ceiling were temporarily interrupted, with no immediate plans to resume, caused a setback. On the previous days, positive signals from the negotiators had given us confidence that a solution would be found before the United States ran into insolvency.
Another reason for reluctance was that, according to US Treasury Secretary Yellen, further mergers, especially with larger institutions, could be imminent in the stress-stricken regional banking sector in order to calm things down.
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Asia was mostly down on Friday.
The leading index presented itself in Tokyo Nikkei with surcharges and ultimately gained 0.77 percent to 30,808.35 points.
In mainland China, meanwhile, things went well for the Shanghai Composite down 0.42 percent to 3,283.54 points. In Hong Kong he lost hang seng meanwhile 1.4 percent to 19,450.57 index points.
Positive input came from the USA, which also supported the Asian business. Hopes for an end to the dispute over the US debt ceiling provided a tailwind here. Meanwhile, inflation in Japan has picked up somewhat. In April, consumer prices rose by 3.5 percent compared to the same month last year. In March, inflation rose by 3.2 percent. As a result, some investors believe the Bank of Japan may tighten monetary policy sooner rather than later, Matt Simpson, market analyst at City Index and FOREX.com, told Dow Jones Newswires.
Meanwhile, the Hang Seng was weighed down by negative results from online retailer Alibaba. The Shanghai Composite was also dragged lower by local reports that authorities may reduce mutual fund commission rates charged by brokers.
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