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DAX climbs over 18,000 points thanks to SAP results
Market report: SAP brings the DAX over 18,000 points - Wall Street supports. Everything about the positive developments on the markets!
DAX climbs over 18,000 points thanks to SAP results
The DAX posted strong gains thanks to positive results from SAP and tailwinds from Wall Street. The index closed above 18,000 points and gained 1.55 percent. The good mood was fueled by companies' first quarter reporting season. SAP started the year with a loss, but sales rose by eight percent thanks to cloud products. Market expectations are high as companies like Munich Re have a good chance of exceeding their annual targets.
After difficult phases, the German economy was back on the growth path. The purchasing managers' index rose 2.8 points to 50.5, indicating an end to the pain from interest and energy price increases. In the technology sector, SAP's results provided a boost, while Delivery Hero was traded as a top e-food pick. Renowned companies such as Novartis and Renault were also able to present positive quarterly results.
Commerzbank shares hit their highest level since 2014, while gold prices fell and Bitcoin remained stable. There were also positive developments on global markets, especially in the pharmaceutical sector. Spotify posted a record profit, causing its stock to soar. Expectations remain high, which has investors looking forward to the results of other companies such as Meta, IBM and Alphabet.