German Stocks Soar Despite Domestic Economic Woes

📆 24/12/2024 03:14:00
📰 FT

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Stock Market,Germany,Dax Index

Germany's stock market has defied economic gloom, with the Dax index surging 18.7% this year. This strong performance is attributed to a handful of companies, dubbed Germany's 'magnificent seven,' which generate a significant portion of their earnings from outside Germany. The rally comes despite weak domestic growth, political instability, and an expected slowdown in economic expansion.

A handful of companies dubbed Germany’s answer to the US “magnificent seven” have driven a strong rally in the country’s stock market this year, defying the gloom enveloping the domestic economy. Frankfurt’s Dax, an index of 40 blue-chips, has risen 18.7 per cent this year, beating the benchmarks in France and the UK, and far outstripping the region-wide Stoxx Europe 600 index’s 4.8 per cent gain.

“Technology stocks have been the story of this year and unfortunately in Europe we only have two major players: ASML and SAP,” said Marc Halperin, co-head of European equities at asset manager Edmond de Rothschild. “The icing on the cake is AI.

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