Bullish
DAX 40 rises 1.4% to 25,099 points, bolstered by SAP earnings and strong PMI data.
The DAX 40 experienced a significant gain, closing at 25,099 points, up 1.4% from the previous day. This rally was driven by SAP's strong earnings report and positive Purchasing Managers' Index (PMI) data, indicating economic resilience. Additionally, a sharp decline in oil prices provided further support to the index.
Key points
- SAP's shares surged 6.3% following a revenue increase to EUR2.209 billion, surpassing last year's EUR1.749 billion.
- The S&P Global Flash Germany Composite PMI rose to 51.2 in July from 49.5 in June, marking the highest reading in four months.
- Brent crude oil prices fell to $95.92 per barrel, a 4.7% decrease from the previous day's close.
Sources
AI-generated from public news sources. Not financial advice.
