The DAX extended its advance to a fourth straight session in Frankfurt on the 12th, closing 109.11 points higher than the previous day at 26,771.88. Buying emerged in stocks that reported strong earnings, supporting the index.
The DAX extended its advance to a fourth straight session in Frankfurt on the 12th, closing 109.11 points higher than the previous day at 26,771.88 and setting a new record high. At one point during trading, it rose into the 27,000 range for the first time.
Siemens was supported by news that its order intake for the July–September 2026 quarter exceeded market expectations, while insurance and utility stocks supported the market's rise. On the other hand, higher crude oil futures capped gains, prompting selling in defense heavyweight Rheinmetall and automotive-related stocks such as Volkswagen.
As banks declined, the STOXX 600, comprising 600 major European stocks, set a new record closing high for a consecutive day at 664.01.
The day's market action was marked by buying in strong-earnings stocks pushing the index higher, while higher oil prices and selling in some stocks capped gains.