14.11.202517:02:35UTC+00DAX Ends at 1-Week Low, Still Posts Weekly Gain

On Friday, Germany's DAX index concluded 0.7% lower at 23,887, marking its lowest point in a week and continuing the decline from the previous day. This dip reflects ongoing global economic uncertainties, even amidst the reopening of the U.S. government. Investors are particularly concerned about high valuations in the technology sector and substantial investment strategies in artificial intelligence. The earnings season is also approaching its conclusion. Among the notable performers, Bayer, a pharmaceutical and agrochemical giant, experienced the biggest drop, retracting some of its weekly gains with a fall of 5.1%. Banks and technology firms mirrored this trend with notable losses. Conversely, Siemens Energy shares soared 9.4%, achieving a record peak since its separation from Siemens AG five years ago. This surge follows the release of robust third-quarter results and an upward revision of its mid-term financial targets, accompanied by the announcement of its first dividend in four years. Siemens AG and Siemens Healthineers also saw gains, rising by 1.5% and 1.3%, respectively. Allianz reported record-breaking results for the first nine months of the year, contributing a 1.2% increase. Overall, the index recorded a weekly gain of 1.3%.