German Stock Market Surges: MDax Hits Record, Siemens Energy Soars
The German stock market surged on Thursday, with the MDax index reaching 30,733.46 points, up 0.90 percent. Siemens Energy and Hochtief were among the standout performers, with Siemens Energy shares hitting a record high and closing up 4.1 percent. The market largely ignored the ongoing US government shutdown.
Several companies saw significant gains. Siemens shares rose 4.2 percent, buoyed by discussions about the future of Siemens Healthineers. Analysts from Goldman Sachs, Berenberg, and Bank of America raised their price targets for Siemens Energy and Hochtief, citing improved prospects in offshore wind power, stable Gas and Power segments, and key roles in data centers for the AI megatrend. Formycon shares jumped over 10 percent due to a patent dispute in the US. SMA Solar and Rational shares also rose, by 5.4 percent each, following cost-cutting program expansions and analyst upgrades respectively. Hochtief shares set a new record, climbing 7.6 percent after an analyst upgrade.
The market's resilience was evident despite the US government shutdown. The EuroStoxx 50 closed up 1.2 percent, reflecting a broader optimism. The last resistance before the all-time high of 24,639 points in the stock market appears to be in place, with several companies showing strong performance and analysts expressing positive outlooks.
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