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DAX index recovers to 25,231 points amid falling oil prices
The DAX index recovered significantly on Friday, closing at 25,231 points, a 1.1% increase. This rebound followed a period of volatility where the index had briefly dipped below the 25,000 mark. The recovery was supported by weak US employment data, which eased concerns regarding rapid interest rate hikes by the Federal Reserve, and falling oil prices.
In the technology sector, semiconductor stocks led the rally. Infineon shares surged by 8.8%, while other chip-related companies like Aixtron and Suss Microtec also saw notable gains. Meanwhile, Brent crude oil prices fell below the 100 US dollar per barrel threshold, aided by discussions in Europe regarding the release of strategic diesel reserves.
Other notable market movements included Tesla reporting 486,532 vehicle deliveries for the third quarter and Novartis announcing a deal with Abogen Biosciences valued at up to 7.8 billion US dollars. However, economic pressures remain, as Eurozone inflation rose from 3.2% to 3.8% in September.
Entities
Brent crude · Christine Lagarde · DAX · Federal Reserve · IG · Infineon · Micron Technology · Novartis · Tesla
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] Infineon shares rose by 8.8%. www.brn-ag.de · www.finanzen.at · www.oldenburger-onlinezeitung.de · courage-lounge.de
- [○ 1 SOURCE] Tesla delivered 486,532 vehicles during the third quarter. www.brn-ag.de
- [○ 1 SOURCE] The yield on 10-year US Treasury notes fell to 5.19%.
- [○ 1 SOURCE] Novartis entered into a deal with Abogen Biosciences valued at up to 7.8 billion US dollars. www.brn-ag.de
- [○ 1 SOURCE] Eurozone inflation increased from 3.2% to 3.8% in September. www.oldenburger-onlinezeitung.de
- [● 3 SOURCES] Brent crude oil prices fell below 100 US dollars per barrel. www.brn-ag.de · www.boersennews.de · courage-lounge.de
- [● 7 SOURCES] US employment growth in September was significantly weaker than market expectations. www.brn-ag.de · www.finanzen.at · courage-lounge.de · www.cash.ch · www.finanzen.ch · +1 more
- [● 4 SOURCES] The DAX index closed at 25,231 points, representing a 1.1% increase. www.brn-ag.de · www.finanzen.at · courage-lounge.de · www.oldenburger-onlinezeitung.de