The DAX 40 held its early gains near the record level of 26,520 on Friday afternoon, with autos leading the advance. BMW shares rose 3.8%, helped by a more positive outlook from Citigroup. Traders were also assessing Fed Chair Kevin Warsh's speech at the Jackson Hole Economic Symposium, where he said inflation remained elevated and had not made sufficient progress toward the 2% target. His remarks indicated that tighter policy could be warranted if disinflation (slowing inflation growth) does not accelerate.