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DAX made a new ATH in day running trading

DAX was up on Friday after testing the low level of 20382 in the last trading session as The DAX was up 0.4% to trade around a new record high of 20500 on Friday, outperforming most of its European peers, led by an almost 5% gain in shares of Munich Re after the company announced a €6 billion net profit target for next year. Mercedes-Benz (1.3%), BMW (1.7%), Daimler Truck (1.9%) and VW (1.7%) were also sharply high. Meanwhile, traders continued to assess Europe’s economic and monetary outlook. The ECB reduced interest rates as expected and reiterated its meeting-by-meeting approach to decision-making, while also lowering inflation and growth forecasts.