Germany’s benchmark stock index, closes at record high today.
German stocks that have outperformed recently include Rheinmetall, a large defense contractor that has been boosted by demand for weapons and ammunition since Russia invaded Ukraine. Rheinmetall’s shares have gained around 40% this year, making them the Dax’s top performer.
Tweet on the German stock market
Germany's benchmark stock index, the Dax, set a record closing high today.
German stocks that have outperformed recently include Rheinmetall, a large defense contractor.
#Germany #stocks #markets pic.twitter.com/7ReyZso35x— The_Journalbiz (@the_journalbiz) May 19, 2023
Factset chart
China’s reopening has lifted German industrial stocks, as investors have sought exposure to companies that benefit from rising demand in the world’s second-biggest economy. Japanese stocks have also benefited: The Nikkei index closed Friday at a 33-year high.
Unlike most major stock indexes, the Dax is a total-return benchmark, meaning it takes into account dividend payouts by constituent companies. For that reason, its performance isn’t directly comparable to gauges such as the S&P 500.