The DAX performance in calendar week 21 (May 16, 2025, to May 23, 2025) was characterized by an overall robust market environment, which also showed significant weaknesses in individual stocks.
Overall Market Development
The DAX was able to continue its mid-term upward trend and reached a new all-time high of around 23,911.98 points in May 2025. The year-to-date performance remained at a very high level with +19.38%. Despite the positive trend, trading volume was below average, which indicates a certain caution among market participants.
Winners and Losers in the DAX
While the index remained stable or slightly increased overall, there were strong differences among the individual stocks within the DAX 40:
- Bottom Performers (Losers):
- Volkswagen vz: -9.09%
- Porsche: -8.57%
- Sartorius vz: -6.02%
- Brenntag SE: -5.84%
- Siemens Healthineers: -5.75%
These stocks were among the biggest losers of the week and were burdened by various factors such as weak quarterly results or industry concerns.
Market Drivers and Outlook
The German stock market continued to benefit in KW21 from a global risk appetite among investors as well as from uncertainties in other markets – for example, due to political developments in the USA – which led to increased capital flowing into European indices like the DAX. Analysts see short-term and mid-term further upside potential for the DAX as long as important support zones are not breached (short-term: approx. 21,930 points; long-term: approx. 18,923 points).
However, experts urge caution: The declining buying volume could indicate an impending correction. It is therefore advisable for private investors to closely monitor both the overall market development and the performance of individual stocks.
Conclusion
The past week again highlighted the importance of a differentiated view of the German stock market: While the index itself remained stable or even reached new highs, there were significant setbacks in individual titles – particularly in the automotive sector (VW/Porsche) as well as in selected industrial companies (Sartorius/Brenntag/Siemens Healthineers). For investors, it remains crucial to keep an eye on both macroeconomic trends and company-specific developments.
“The volume of bulls continued to decline in the last trading week… Should the bears return… the DAX could be impulsively sold off downward.”
— Boersenpaar.de on the current situation in the German stock market