FRANKFURT (dpa-AFX Broker) - Against a persistently upbeat market backdrop, software and internet stocks gained significant traction on Friday. The sector capitalized on the recent robust recovery in US technology shares, which culminated in a renewed record-breaking streak for the Nasdaq 100 and S&P 500 indices.
SAP led the charge at the top of Germany's blue-chip DAX, climbing more than three percent. In the mid-cap MDAX, Nemetschek, Teamviewer, and Ionos surged between five and nearly six percent.
Cyclical US tech stocks are currently being driven by mounting signs of de-escalation in the Iran conflict. Further momentum is provided by solid corporate earnings and growing optimism that Artificial Intelligence may not disrupt established business models as severely as recently feared./la/nas
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