The DAX index made a spectacular recovery in the first quarter in sync with other top indices. It rose by more than 16% from its lowest level this year even as risks to the German economy remained. The index is trading at €14,445, where it has been in the past few days. It remains about 11.43% below its highest level this year. Here are the best performing DAX stocks year-to-date.
Bayer (ETR: BAYN) is a leading German company that focuses on pharmaceuticals and life sciences. It is one of the biggest firms in Germany with a market value of over $61.5 billion. The Bayer share price has done well this year, becoming the best performing stock in the DAX index. It has risen by more than 34% as demand for its products has risen.
Bayer is also in the spotlight because of its new thrombosis prevention drug, which showed positive results during testing. According to Bloomberg, the drug showed about 67% reduction in ISTH major. Therefore, there is a likelihood that the company will turn the drug to become an alternative to the existing ones.
Bayer stock price has risen because it is a defensive name that is not affected mostly by the ongoing geopolitical tensions.
The MTU Aero (ETR: MTX) share price has risen by over 15%, becoming the second-best performing stock in the DAX index. The company’s stock has risen because of the ongoing recovery of the civil aviation industry as the world economy reopens.
Most importantly, it has risen because of the decision by the German government to boost its defense spending due to Russia’s invasion of Ukraine. As one of the biggest players in the defence industry, analysts expect that it will be one of those to benefit.
Deutsche Bank (ETR: DBK) is also one of the best-performing stocks in the DAX index. The stock has risen by more than 7.3% as investors cheer the ongoing hawkish tone by central banks. In the United States, the Fed has already hiked rates by 0.25% and there are signs that it will deliver 6 more hikes this year. In the European Union, analysts expect that the ECB will increase rates later this year.
Still, Deutsche Bank faces an uphill battle, especially in its investment banking division. Data published last week showed that global deal-making declined sharply in the first quarter. The firm also has some exposure to the Russian market.
Other top performers in the DAX index are Deutsche Boerse, RWE, Porsche, and Allianz.