European equity markets extended gains on Friday to record their best week since March after a strong start to the Q3 earnings season powered buying. Banks were among the top performers after forecast-beating quarterly results from US biggest lenders on Thursday. Investors also welcomed the news that next week European Union leaders are set to approve emergency measures to provide short-term relief to households and businesses amid an unprecedented energy crisis. On the economic data front, recent figures showed European car registrations slumped by 23.1% in September. Among single stocks, German fashion retailer Hugo Boss climbed 1% as the company raised its outlook for the current year after third-quarter earnings rebounded on the back of strong demand. Frankfurt’s DAX surged 2.5% this week to 15,587, the highest close since September 27th and the biggest weekly rise since March.
Historically, the Germany Stock Market Index (DE40) reached an all time high of 16030.33 in August of 2021. Germany Stock Market Index (DE40) - data, forecasts, historical chart - was last updated on October of 2021.
The Germany Stock Market Index (DE40) is expected to trade at 14785.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 13612.23 in 12 months time.