0747 GMT - Germany's DAX beat other major European equity indexes in the past two years and one of the reasons is a performance strongly concentrated in a handful of stocks, strategists at Deutsche Bank say in a research note. Germany has its own version of the Magnificent Seven stocks, namely SAP, Deutsche Telekom, Allianz, Siemens, Siemens Energy, Munich Re and Rheinmetall, Deutsche says. "Excluding SAP, the DAX has performed largely in line with the rest of Europe," the strategists say. Software company SAP contributed 7.8% to the DAX return and the DAX's Magnificent Seven stocks accounted for 98% of the annual performance in 2024, according to Deutsche. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
January 20, 2025 02:47 ET (07:47 GMT)
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