DAX 40 rises 0.6% above 25,400 on Iran hopes and lower yields

  • DAX 40 rose 0.6% to cross 25,400 on Friday.
  • US-Iran negotiations were seen as potentially reopening the Strait of Hormuz.
  • German consumer sentiment weakened more than expected heading into October.

Frankfurt's DAX 40 climbed 0.6% to cross 25,400 on Friday as lower oil prices and government bond yields eased pressure on investors. Market sentiment also improved on hopes for a phased US-Iran agreement that would reopen the Strait of Hormuz. The extension of the US-China trade truce until January, agreed at the Trump-Xi summit, reduced the risk of an immediate escalation. German consumer sentiment weakened more than expected heading into October, as higher energy prices hurt households' income expectations. Banks, technology and travel-related stocks led gains, with most sectors trading higher.

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