DAX surges 1.2% as Infineon leads gains before Pentecost weekend
German markets saw a strong rise in buying before the Pentecost weekend. The DAX index climbed 1.2 percent, closing at 24,889 points on Friday. Several major companies led the gains, while others faced declines due to dividend adjustments. Infineon was the day’s standout performer, with shares jumping over 8 percent. The surge came despite the company having no immediate plans for new production sites. Deutsche Post and Symrise also performed well, each rising by around 4 percent.
Meanwhile, Vonovia and Fresenius saw drops of over 5 percent and 3 percent respectively. Both stocks traded ex-dividend, meaning investors no longer qualified for the latest payout. The euro also weakened slightly, trading at $1.1602 by the end of the session. U.S. markets contributed to the positive mood, hitting fresh record highs. Former U.S. President Donald Trump noted the milestone on his Truth Social platform, calling it a 'New Stock Market Record.' Despite Monday being a public holiday, German markets will remain open for trading.
The DAX ended the week on a high, supported by strong U.S. market performance. Infineon’s sharp rise contrasted with losses for Vonovia and Fresenius, both affected by dividend adjustments. Trading will continue as usual on Monday, despite the holiday.
