法兰克福DAX指数周五收窄早盘涨幅，在23690点附近几乎持平，徘徊在历史高点附近，因为交易员在周末前变得谨慎，关注贸易发展和俄罗斯-乌克兰谈判。与此同时，欧盟官员周四表示，欧盟正在推动与美国达成一项比目前与英国和中国谈判的更全面的关税削减协议，并补充说，讨论正在取得积极进展。在企业方面，莱茵金属领涨1.7%，紧随其后的是Vonovia、SAP、Beiersdorf、Symrise和西门子医疗，涨幅在1.5%至2%之间。另一方面，E.On（-3.9%）、巴斯夫（-2.2%）和海德堡材料公司（-2.2%。每周表现显示上涨0.8%，使该指数连续第五周上涨。

Frankfurt's DAX trimmed early gains to trade almost flat around 23,690 on Friday, hovering around record highs, as traders turned cautious ahead of the weekend, eyeing trade developments and Russia-Ukraine negotiations. Meanwhile, EU officials stated Thursday that the bloc is pushing for a more comprehensive tariff reduction deal with the US than those currently being negotiated with the UK and China, adding that discussions were progressing positively. On the corporate front, Rheinmetall led gains with a 1.7% rise, followed by Vonovia, SAP, Beiersdorf, Symrise, and Siemens Healthineers, which advanced between 1.5% and 2%. On the other hand, E.ON (-3.9%), BASF (-2.2%) and Heidelberg Materials (-2.2%) were among the biggest laggards. The weekly performance pointed to a 0.8% gain, positioning the index for its fifth consecutive weekly rise.

德国10年期国债收益率跌至2.59%以下，从5月14日达到的六周高点2.69%有所回落，因为投资者重新关注潜在的经济影响，特别是对美国经济的影响后，避险行为重新开始。美国消费者和生产者通胀疲软以及零售销售疲软表明需求降温，加剧了人们对美国经济的担忧，并提高了人们对美联储今年进一步降息的预期。与此同时，美国和中国同意实施90天关税削减并恢复贸易谈判所引发的最初乐观情绪已经消退。在货币政策方面，预计欧洲央行将在6月继续降息；然而，欧洲央行管理委员会成员哈萨克斯坦表示，如果通胀恢复到预测的2%的目标，降息可能即将结束。

Germany’s 10-year Bund yield fell below 2.59%, easing from a six-week high of 2.69% reached on May 14th, as flight to safety resumed after investors refocused on the potential economic fallout, particularly for the US economy. Weaker consumer and producer inflation and sluggish retail sales in US signaled cooling demand, fueling concerns about the US economy and boosting expectations for more Fed rate cuts this year. At the same time, the initial optimism sparked by the US and China’s agreement to implement a 90-day tariff reduction and resume trade talks has faded. On the monetary policy front, the ECB is expected to continue lowering interest rates in June; however, ECB Governing Council member Kazaks indicated that rate cuts may be nearing their end, provided inflation returns to the 2% target as forecast.

法兰克福DAX指数周五上涨超过0.5%，收于23900点附近，为连续第二天创纪录收盘创造了势头。市场情绪继续受到全球贸易紧张局势可能正在缓解的谨慎乐观情绪的支撑。欧盟官员周四表示，欧盟正在推动与美国达成一项比目前与英国和中国谈判的协议更全面的关税削减协议，这增加了积极的基调，并补充说，讨论正在取得积极进展。在企业方面，医疗保健类股领涨，拜耳和默克分别上涨2.9%和1.4%。每周表现显示上涨1.6%，使该指数连续第五周上涨。

Frankfurt's DAX rose over 0.5% to trade near 23,900 on Friday, as momentum built for a potential record close for the second day in a row. Market sentiment continued to be supported by cautious optimism that the global trade tensions may be easing. Adding to the positive tone, EU officials stated Thursday that the bloc is pushing for a more comprehensive tariff reduction deal with the US than those currently being negotiated with the UK and China, adding that discussions were progressing positively. On the corporate front, healthcare stocks led the way, with Bayer and Merck rising 2.9% and 1.4%, respectively. The weekly performance pointed to a 1.6% gain, positioning the index for its fifth consecutive weekly rise.

在法兰克福，DAX指数周五上涨183点，涨幅0.77%。领涨的是拜耳（2.69%）、SAP（1.66%）和德之馨（1.58%）。跌幅最大的是西门子（-0.38%）、德意志银行（-0.18%）和Zalando（-0.10%）。

In Frankfurt, the DAX Index is gaining 183 points or 0.77 percent on Friday. Leading the gains are Bayer (2.69%), SAP (1.66%) and Symrise (1.58%). Top losers are Siemens (-0.38%), Deutsche Bank (-0.18%) and Zalando (-0.10%).