The DAX index has surged to a record high of €21,800 even as the German economy slows and concerns of Donald Trump’s tariffs rise. It has jumped by 50% from its lowest level in 2023, making it one of the top-performing companies this year. Let’s explore some of the top DAX companies to watch this week and the top movers in 2024.
Top DAX index companies to watch this week
There will be many top movers in the DAX 40 index this week as they publish their financial results. Siemens Energy, one of its top-performers since 2024 will in the spotlight as it publishes its quarterly results on Wednesday. These numbers wil provide more color about the business demand as its recovery continues.
Siemens will then release its numbers on Thursday. The other big DAX index constituent to watch will be Commerzbank as it releases its results. Analysts are watching its numbers as speculation of a takeover by Unicredit increases. Unicredit has accumulated more shares and its management has not ruled out a complete buyout.
Thyssenkrupp will also release its numbers later this week. This is one of the biggest engineering companies, making products for key sectors like automotive, construction, chemicals, and food and beverages.
Top DAX performers
The DAX index has surged as most companies rose. Heidelberg Materials, the biggest German manufacturer of building materials like cement, aggregates, asphalt, and ready-mix concrete, has done well as its stock surged by over 21% this year.
Heidelberg Materials has done well as demand for its business continued growing. Its nine-month revenue rose by 2% to over 15.7 billion, helped by its American business. Analysts expect that its demand will continue doing well this year.
Commerzbank share price has soared by 20% this year and by 52% in the last six months. As mentioned, this growth is mostly because of Unicredit, which has become its biggest investor and hinted of an eventual rebound.
Rheinmetal stock price, which was the best performer in 2024, has continued its momentum. Its stock has soared by 17.8% this year as Donald Trump insists that NATO countries will need to spend about 5% of their GDP on defense.
The other notable gainers in the DAX index are firms like Infineon, Sartorius, Zalando, SAP, Deutsche Telekom, Siemens Energy, and Daimler Truck Holding. All these firms have soared by over 10% so far this year.
On the other hand, the top laggards in the DAX index are firms like Qiagen, Symrise, Porsche, and BMW. BMW and Porsche stock price has crashed this year amid concerns about the tariffs from the United States, where they do a lot of business.
DAX index analysis
The DAX index has soared as the European Central Bank maintained a dovish tone by hinting that it would continue cutting rates later this yaer. It has remained above the 50-week moving average.
Further, the Relative Strength Index (RSI) and the MACD indicators have continued rising, a sign that it has momentum. It has also moved to the upper side of the ascending channel after rising in the last seven consecutive weeks.
Therefore, the index may keep rising as bulls target the key resistance point at 22,000 euros. However, there is a likelihood that it may retreat in the coming weeks as traders target the 50-week Exponential Moving Average at 19,000 euros.
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