© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 26, 2023. REUTERS/Staff/File Photoindex posted its biggest weekly gain since March on Friday, supported by interest rate-sensitive real estate stocks as signs of an end to monetary policy tightening by major central banks boosted sentiment
Decisions by the Federal Reserve, the Bank of England, the European Central Bank and others to leave policy unchanged have underpinned investor hopes that interest rates have peaked. Real estate stocks saw their biggest weekly gain since at least 2008, adding 12.2%, as a rally in government bonds brings down yields in Europe and around the world.Andritz gained 6.2% after JPMorgan upgraded the Austrian industrial equipment maker to"overweight" from"neutral", citing a strong backlog that gives visibility on next year.) rose 2.
The day's worst performer was shipping group A.P. Moller-Maersk which slumped 16.9% after it indicated revenue and operating profit would land at the lower end of guidance and announced a review of its buyback program.