06.07.202607:42:53UTC+00DAX 40 Hits New Record

Frankfurt’s DAX 40 set a fresh record on Monday, rising to 25,860 points and extending last week’s rally. The benchmark was supported by expectations of robust quarterly earnings and easing oil prices. Among individual stocks, Merck inched higher after HSBC revised its recommendation, cutting the rating from “Buy” to “Hold” while lifting the price target from €160 to €170. Delivery Hero gained nearly 1% after reports that Uber has halted most of its recently announced plans to expand its European food delivery operations, even as it continues with the acquisition of its German rival. Continental also remained in the spotlight: the automotive supplier intends to return €2.5 billion from the sale of ContiTech to shareholders via a special dividend and possible share buybacks. The plan, unveiled on Friday, propelled Continental’s share price to its highest level since 2021.