FRANKFURT (dpa-AFX) - The German stock market has made a generally successful start to the 2026 trading year. Small and mid-cap indices posted significant gains on Friday, while the DAX was unable to hold on to most of its early-session profits. In the morning, the leading index briefly approached its October record high of 24,771 points, thus continuing its strong 2025 performance, which saw a gain of 23 percent. However, the dynamic rally immediately after trading began was quickly sold off, indicating a persistently high willingness among investors to take profits, wrote Christine Romar, Head of Europe at brokerage CMC Markets.
Not much is happening on this bridge day between New Year's and the weekend. Many investors are still on holiday around the turn of the year. As a result, market activity is expected to pick up more noticeably from next week onwards.
The DAX closed up 0.20 percent at 24,539.34 points. Strong price gains in the shares of energy group RWE and engine manufacturer MTU provided support. The MDAX of mid-cap stocks gained 1.18 percent to 30,979.74 points.
Shares in Aixtron soared by more than 13 percent, making them the clear frontrunner in the MDAX. Positive momentum came from Asia: Baidu benefited from a planned IPO of its semiconductor division, and Samsung Electronics shares reached an all-time high.
German steel stocks such as Salzgitter and Thyssenkrupp were also in demand at the start of 2026. Salzgitter surged 11.5 percent, making it the top performer in the SDAX, while Thyssenkrupp gained 4.8 percent. Both stocks benefited last year from hopes of a revival in the German economy as well as protective measures by the EU Commission for Europe's steel industry, which has been suffering from cheap imports of state-subsidized Chinese steel. The ongoing boom in the defense sector provided additional positive impetus.
Salzgitter also benefited from the strong performance of Aurubis shares, of which Salzgitter owns nearly 30 percent. The Hamburg-based copper smelter is profiting from high demand for the industrial metal, which is essential for the expansion of alternative energy, electromobility, and artificial intelligence (AI). Aurubis shares reached a record high and ultimately gained 1.6 percent.
The EuroStoxx 50, the leading index for the eurozone, climbed to a record high and ended up 1.02 percent at 5,850.38 points. In London, the FTSE 100 surpassed the 10,000-point mark for the first time in its history and closed moderately higher. The Dow Jones Industrial in New York also gained slightly by the close of European trading.
Looking ahead to 2026, experts remain optimistic. According to Dekabank's chief economist Ulrich Kater, there is a good chance that 2026 will be a repeat of the previous year, with a positive trend in the stock market. Growth momentum in Europe is expected to increase.
Alongside the perennial topic of AI—where observers fear a more pronounced price correction in the foreseeable future—geopolitical hotspots remain in focus. In Europe, a real breakthrough in the Ukraine war remains elusive. In the Americas, U.S. actions toward Venezuela are causing tension, and in Asia, the China-Taiwan conflict could become more prominent in 2026./la/he
--- By Lutz Alexander, dpa-AFX ---
