On Thursday, February 15, the DAX index in Frankfurt reached a groundbreaking record as it climbed 0.6% higher to settle at 17,047. This record-breaking high was bolstered by a succession of promising corporate earnings and optimistic comments from the President of the European Central Bank, Christine Lagarde. 

Lagarde acknowledged the latest economic data from the eurozone which suggested that inflation appears to be on the course to align with the projected target levels. However, she reinforced the necessity of gathering more information, with a particular focus on wage trends, before any contemplation about alterations to interest rates could be made. 

On the corporate front, Commerzbank’s shares rose 5.5% after the bank proudly announced its most significant profit in 15 years for 2023. This impressive achievement signifies a substantial 55% increase compared to the bank’s profit the prior year. Moreover, automobile industry powerhouses have shown noteworthy performances. Mercedes and BMW have each accumulated close to a 2% increment. However, it wasn’t all an upward trend as Airbus experienced a 1% decline despite releasing strong corporate earnings and declaring a special dividend.  

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