The German DAX index maintained a positive trajectory midday Friday, although it relinquished a portion of the gains seen earlier in the session. At 12:30 PM, the index stood at approximately 23,600 points, representing a modest increase of 0.3 percent compared to the previous day’s closing value.
Significant buying activity was observed across major insurance corporations. Munich Re shares led the surge, climbing over three percent to top the list, followed by Allianz and Hannover Re, both featuring prominently within the top five performers. Siemens and Mercedes-Benz also saw considerable investor interest.
Market sentiment appears to be influenced by existing geopolitical tensions, prompting expectations of increased business opportunities for the insurance sector. A notable indicator of confidence was the declaration of a share purchase exceeding €300,000 by Munich Re board member Christoph Jurecka, prompting follow-on investment from other shareholders.
The euro strengthened slightly in Friday afternoon trading, fetching $1.1669, with the US dollar valued at €0.8570.
