DAX gains for second day as autos rally
The DAX 40 rose a further 0.6% to around 26,140 on Friday, its second straight day of gains, led by the automotive sector. Volkswagen shares jumped over 8% after board approval of a 89-year biggest restructuring plan.
The DAX 40 rose further by 0.6% to around 26,140 on Friday, marking the second day of gains, powered by the automotive sector.
Volkswagen shares jumped over 8%, following the board’s approval of its biggest restructuring plan in 89 years.
The plan includes 50,000 job cuts and alternatives for four German plants, while also reducing the supervisory board’s influence on key decisions, where unions and Lower Saxony hold a majority.
BMW, Continental and Mercedes-Benz Group also advanced solidly.