Dax Surges Past 23,000 Points Driven by Defense and Auto Stocks

The German stock index hits a record high, fueled by rising defense budgets and eased EU regulations for automakers.

The Dax closed at 23,147.02 points, marking a 2.64% daily gain and surpassing the 23,000-point threshold for the first time.
Defense stocks like Rheinmetall and Hensoldt soared due to expectations of increased European defense spending, with Rheinmetall shares nearing €1,200.
The rally was partially triggered by geopolitical tensions, including a breakdown in talks between Ukrainian President Zelensky and U.S. President Trump.
Automaker stocks rose following EU plans to relax CO2 compliance deadlines, benefiting companies like Volkswagen, BMW, and Mercedes.
European stock markets broadly outperformed U.S. indices, driven by strong corporate earnings and favorable monetary policies from the European Central Bank.