Reported from the source

Quick summary: The German DAX index opened the 2026 trading year with slight gains, closing up 0.2 percent at 24,539 points, despite restrained investor activity on the first trading day. Supporting the index were strong performances from MTU and RWE shares, while defense and technology stocks also saw significant increases. Globally, the EuroStoxx 50 and FTSE 100 reached new record highs, and precious metals continued their upward trend. However, investors were notably disappointed by Tesla’s fourth-quarter and full-year 2025 delivery figures, which fell significantly, leading to Chinese automaker BYD surpassing Tesla in pure electric vehicle sales.

The German stock market commenced the 2026 trading year with modest gains, as the DAX index closed 0.2 percent higher at 24,539 points on the first trading day. This occurred despite a generally quiet market, with many investors still on holiday around the New Year. Earlier in the day, the DAX had aimed for its October record high of 24,771 points, building on a strong 2025 which saw a 23 percent increase, but it later slipped before recovering some ground. Significant share price gains from engine manufacturer MTU and energy group RWE, both up over four percent, provided crucial support to the DAX. RWE’s shares are now trading at their highest level since 2011, driven by increased electricity demand and the expansion of renewable energies. Jochen Stanzl of Consorsbank expressed optimism for the coming weeks, suggesting that DAX trading could quickly gain momentum, potentially paving the way to 25,000 points with good trading volumes. Doubt surrounding an imminent peace agreement between Russia and Ukraine propelled defense stocks higher, with Rheinmetall shares rising by almost 1.1 percent in the DAX, and Hensoldt and Renk climbing 4.4 and 2.3 percent respectively in the MDAX. Technology stocks also performed strongly, with Aixtron shares surging by more than 13 percent, leading the MDAX. Positive impulses came from Asia, where Baidu benefited from a planned IPO of its semiconductor division, and Samsung shares reached an all-time high. In the commodity market, precious metals continued their upward trend from the previous year. Gold prices rose by up to two percent to $4,398 per troy ounce, while silver traded 4.6 percent higher at $74.55 per troy ounce, both nearing their record highs achieved shortly before the year-end. The EuroStoxx 50, the Eurozone’s leading index, climbed to a new record high, closing up around 1.0 percent at 5,850 points. In London, the FTSE 100 surpassed the 10,000-point mark for the first time in its history, closing moderately positive, and the Dow Jones in New York also saw gains by the European market close. Conversely, investors were disappointed by Tesla’s performance. The electric car pioneer’s deliveries in the last quarter of 2025 fell significantly by 15.6 percent compared to the same quarter last year, totaling 418,227 vehicles worldwide. This decline was partly attributed to the expiration of the $7,500 US tax incentive for electric car purchases at the end of September. Full-year 2025 deliveries were also down for the second consecutive time, falling 8.5 percent to approximately 1.64 million vehicles. Meanwhile, Chinese automaker BYD has overtaken Tesla, having sold 2.07 million pure electric cars by the end of November 2025 alone.

Source: www.tagesschau.de