German shares reached a record high on Thursday as investors reacted positively to the Democrats’ victory over US President Donald Trump’s Republicans in the midterm elections.
The benchmark DAX index gained nearly 0.7% to 26,646.32 points at around 0900 GMT. The advance placed the index approximately 30 points above its previous record.
The gains reflected improving investor sentiment following the US election outcome, which also supported optimism on Wall Street.
Heidelberg Materials and Zalando Lead Gains
Heidelberg Materials and online retailer Zalando led the advance among major German stocks.
Heidelberg Materials shares climbed 3.8%, while Zalando gained 4.4%.
Their performances helped lift the broader DAX index as investors responded to the positive market mood.
US Election Outcome Supports Market Sentiment
The Democrats’ strong midterm performance has encouraged investors, with markets assessing the potential implications for Trump’s political agenda and economic policies.
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The reaction in Germany followed a positive response on Wall Street, highlighting the influence of US political developments on international financial markets.
However, the longer-term direction of European equities will also depend on economic data, corporate earnings and global policy developments.
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