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On Friday afternoon, the DAX index in Frankfurt experienced a slight decline, falling below the 24,400 mark. Despite this dip, the index remained poised for a notable weekly increase of approximately 2.6%. With the US government shutdown stalling public-sector operations and delaying official employment data, traders turned to private sector indicators, which suggested a deceleration in growth. The ongoing uncertainty surrounding the length of the US paralysis maintained a cautious stance among investors.
Corporately, Bayer led the index's laggards, dropping 2.4%, with Siemens Energy, Deutsche Börse, Zalando, and SAP also witnessing declines. Furthermore, defense sector stocks such as Hensoldt, which increased by 2.8%, and Renk, up by 1.8%, saw partial reversals of earlier gains, while Rheinmetall decreased by 0.4%. Conversely, the day's top performers included Merck, which rose by 2%, along with MTU Aero Engines and Airbus, both bolstered by over 1% increases. This uplift was fueled by optimism stemming from discussions in Copenhagen regarding a "drone wall" initiative aimed at protecting European airspace.
