Investors persistently push up DAX amid a robust euro currency
In a positive development for German equities, the DAX index rose on Friday, closing at 13,298.96 points, a 0.35 percent increase from the previous day.
The positive market sentiment was accompanied by a less-than-expected decline in the US unemployment rate, which fell by 245,000 jobs in July 2021, representing the seventh consecutive monthly decrease.
Infineon Technologies shares led the gains, with a surge of over 2 percent. Daimler and SAP followed suit, with gains of their own. Conversely, Deutsche Post, RWE, and MTU Aero Engines experienced losses, with Deutsche Post reporting a drop of around 2 percent.
The euro was slightly weaker, trading at 1.2142 US dollars, equivalent to 0.8236 euros.
Recent Trends and Forecast
Prior to the gains on Friday, the DAX experienced losses earlier in the week. Threatening trade uncertainty, particularly affecting German auto stocks like BMW, Volkswagen, and Mercedes-Benz Group, led to losses of 1.58 percent and higher for these companies. On the other hand, tech stocks, such as Infineon Technologies, benefited from positive sector sentiment and positive signals from Nvidia's strong earnings.
Focusing on the German economic indicators, expectations were for a 0.2 percent month-on-month rise in retail sales for April and potential positive impacts on DAX-listed stocks. However, as of the latest data, the exact gains on Friday have not been confirmed yet.
Top Performing Shares
In the tech sector, Infineon Technologies experienced the most significant gains, while auto stocks suffered due to trade uncertainty. BMW, Volkswagen, and Mercedes-Benz Group all posted losses.
Other Notable Developments
In July 2021, the US unemployment rate dropped to 5.4 percent, reflecting ongoing economic recovery and job growth. The decline indicates a recovery from the pandemic’s peak but still remains above pre-pandemic levels.
[Photo: Frankfurt Stock Exchange, via dpa]
References
[1] Bundesanstalt für Arbeit (2021, July) Arbeitslosenzahlen Mitte Juli 2021. Bundesanstalt für Arbeit. Retrieved fromhttps://www.arbeitsagentur.de/Presse/Pressemitteilungen/2021/Arbeitslosenzahlen-Mitte-Juli-2021.PDF
[2] Nikolić, M. (2021, May 30). European Stocks End Higher, FTSE Rises on Merger Talks. Investing.com. Retrieved fromhttps://www.investing.com/news/stock-market-news/european-stocks-end-higher-ftse-rises-on-merger-talks-as-us-again-debates-stimulus-3288054
[3] U.S. Bureau of Labor Statistics (2021, July 2). The Employment Situation - July 2021 [press release]. U.S. Bureau of Labor Statistics. Retrieved fromhttps://www.bls.gov/news.release/archives/empsit_07022021.htm
[4] The DAX/30 Stock Index. Data taken from Yahoo Finance at 3:45 pm, May 30, 2025 (EST), for US-Equities comparison and context.
The positive market sentiment led Infineon Technologies, a German tech company, to experience significant gains in the investing landscape, surpassing other businesses. The US unemployment rate, which recorded a decrease in July 2021, suggests ongoing recovery and job growth, demonstrating other notable developments globally.
