Germany’s Dax stock market powers to record high

·3-min read

Germany’s Dax index rose to a record intraday high on Friday as growing investor confidence in corporate earnings made it Europe’s second-best-performing main equity market this year. The index, a measure of Germany’s 40 biggest listed companies, added 0.9 per cent to more than 16,320, surpassing its previous high of 16,290 set in November 2021. Shares in Adidas and Siemens are up almost a quarter this year as investors have warmed to stronger than expected corporate earnings, enabling the market to shrug off concerns that Europe’s largest economy is on the cusp of recession.