Germany’s secret stock success

Five charts to start your day

Germany might not scream “economic paradise” right now – recession, high energy costs and political dramas have taken their toll. Yet its DAX index soared by 12 percent last year, making it Europe’s unlikely champion. How so? One superstar: SAP. That software giant’s share price rocketed by 70 percent in 2024 thanks to booming AI offerings, big-name partnerships and a push onto cloud platforms. Factor in Siemens’ success with data centre demand, and you have over a quarter of the index underpinned by just two booming firms.