FX.co ★ DAX Rallies to Fresh Highs

The DAX index in Frankfurt climbed by 0.3% on Thursday, surpassing the 24,600 mark and achieving a new record high. This marks the fourth consecutive session of gains. Markets largely ignored the newly imposed 50% US tariffs on Brazilian and copper imports, instead focusing on the ongoing EU-US trade discussions. EU Trade Commissioner Sefcovic stated on Wednesday that significant progress had been made towards a framework trade agreement, with a potential deal anticipated within days. Pharmaceutical stocks led the gains, particularly with Merck advancing 2.6% following its announcement of a $10 billion acquisition of the British firm Verona Pharma. Gains were also seen among chemical companies, technology firms, and automakers. Conversely, Commerzbank shares dropped by more than 2% after being downgraded to 'Neutral' by BofA Securities.