DAX 40 closes near two-week high, gains led by tech
The DAX 40 closed about 0.3% up at 26,356 on Thursday, its highest level since mid-August. Tech led, with SAP up 5.2% and Infineon up 3.8%, while Autos rose, including BMW and Volkswagen.
The DAX 40 closed about 0.3% up at 26,356 on Thursday, the highest level since mid-August, marking the third session of gains.
Tech stocks, including chipmakers and software firms, led the advance, after Nvidia’s strong sales outlook reinforced optimism over continued AI spending.
SAP was the standout performer, climbing 5.2%, while Infineon Technologies added 3.8%.
Autos also posted solid gains, led by BMW (3.9%), Volkswagen (3.4%) and Mercedes-Benz Group (2.1%).
Meanwhile, investors remained cautious amid geopolitical uncertainties and ahead of the Jackson Hole central bankers’ symposium, which kicks off today, with Fed Chair Kevin Warsh scheduled to speak on Friday.
The ECB’s meeting Accounts suggested that a rate hike could be needed in September, with policymakers highlighting upside risks to inflation and downside risks to growth stemming from the Middle East.