Market report: A lot of tailwind for the DAX

Market report Leading index closes in positive territory The DAX holds its ground As of: October 28, 2026 • 6:38 p.m

The trading day in the DAX ends with slight profits. Investors have a lot of quarterly figures to process and are also looking at the USA. However, high energy prices continue to dampen sentiment.

The DAX maintained its recently elevated level in the middle of the week and closed moderately higher. In the end, the leading German index ended trading today at 25,704 points, an increase of 0.44 percent. Yesterday, the leading German index rose by 0.7 percent to 25,590 points.

The MDAX of medium-sized stocks, however, fell slightly by 0.23 percent to 30,425 points.

The US Federal Reserve's interest rate decision was expected for the evening, always a date of particular importance, and not just for the US markets. Although a change in interest rates was not expected immediately, investors will be watching closely the process in the Fed's powerful FOMC interest rate committee to determine how the interest rate assessment was arrived at.

Who is for an interest rate increase and who is against it? What could emerge for the next meetings? The fact is that inflation in the USA is currently far too high at 3.7 percent. The Fed's target corridor is 2.00 percent, which also applies to the European Central Bank (ECB). The Fed's current key interest rate is between 3.75 and 4.00 percent.

"Today's decision is eagerly awaited, because the fundamental conditions provide arguments for both tightening interest rates and for holding still and waiting," wrote experts from Landesbank Helaba in their market commentary.

In New York, investors held back from the decisions, especially since the quarterly figures from the two tech giants Microsoft and Alphabet are expected after the close of trading. At midday local time, the Nasdaq is struggling with its closing levels, the leading index Dow Jones rose moderately by 0.3 percent.

Disturbances came from the oil market. There, rumors about planned new attacks by the USA and Israel on Iran after November 3rd, the day of the midterm elections in the USA, are causing prices to rise. Brent North Sea oil recently cost over $112 per barrel (159 liters).

The European gas price also rose above the 100 euros per megawatt hour (MWh) mark today for the first time since December 2022. The reason is concerns about supply bottlenecks for liquefied natural gas (LNG) due to shipping disruptions in the Middle East. The price has tripled since the start of the US war against Iran.

The high wholesale prices are already reflected in consumers' gas and electricity bills. Some industries, such as fertilizer, chemicals and steel, which use gas as a raw material, have already reduced their production. Analysts expect gas prices to remain high for at least another year, even if the war is resolved and the winter is mild. The reason for this is that gas storage facilities have fallen to record lows and need to be refilled.

Economic update from October 28th, 2026 Samir Ibrahim, HR, Economic update, Tagesschau24, October 28th, 2026 • 9:00 a.m. AI tailwind In addition, the trading day in Frankfurt was dominated by new quarterly reports. In the morning, good figures from the South Korean chip manufacturer SK Hynix, which reported a record profit, initially helped. The provider of high-performance chips for AI memory increased its quarterly earnings more than sevenfold. The group also assumes that demand will continue to exceed supply until 2030.

This not only boosted the markets in Asia, but also brought relief to investors here. Concerns about whether and when the high investments in the AI ​​sector will begin to pay off have recently weighed on markets worldwide.

The Hynix figures reassured investors. American technology stocks had already recovered by 1.2 percent on the Nasdaq during the night. The planned IPO of the AI ​​developer Anthropic gave the industry new impetus.

Deutsche Bank's pleasing balance sheet also supported the DAX. Deutsche Bank continued its record course in the third quarter and exceeded expectations. Bank boss Christian Sewing was satisfied and wants to announce new goals for the Frankfurt financial institution at the beginning of 2027. They want to become the “European champion,” explained Sewing. This was well received by investors and the shares were at the top of the DAX.

The biggest loser in the DAX, however, was Symrise, which fell by over ten percent. The flavor manufacturer's shares had recently had a good run. But the numbers were not well received, especially by analysts. Because Symrise sees the operating margin (adjusted Ebitda) in the lower half of the target range of 21.5 to 22.5 percent. The consensus estimate is 21.9 percent. Symrise's operational growth was stronger than expected in the third quarter.

BASF unexpectedly increased its earnings significantly in the third quarter thanks to higher prices and slightly increased volumes. The adjusted operating result (Ebitda) rose by 15 percent to 1.64 billion euros. Sales climbed by 14 percent to almost 16.4 billion euros. In view of the strong development, the group again raised its annual targets. The share rose by 1.4 percent.

BASF is also still interested in taking over the Essen-based specialty chemicals group Evonik from the MDAX. However, CEO Markus Kamieth explained that they would not pay excessive prices. According to insiders, BASF recently increased its offer to 24 euros per share. A merger with Evonik would be a “logical and sensible step,” Kamieth continued.

Mercedes-Benz shares are little changed after yesterday's losses. The Stuttgart car manufacturer has presented its final quarterly figures. Yesterday the group had already lowered its profit forecast for this year with reference to the weak Chinese business and rising costs. Today, CEO Ola Källenius announced that the company is rethinking its China strategy.

Mercedes earned significantly less operationally in its car division in the third quarter. more

Thyssenkrupp's sharp share price loss was primarily of an optical nature: as of today, the materials trader tk accelis, which was spun off from the industrial group, has been listed on the stock exchange. For every 20 Thyssenkrupp shares, shareholders were given one share in the subsidiary. Thyssenkrupp retains the majority of the materials division through a holding company.

Industrial group thyssenkrupp has now also taken its materials division public. more

This topic in the program: tagesschau.de | Stock market 5.45 p.m.: Daily conclusion with DAX closing | 10/28/26 | 5:47 p.m