FINWIRES · TerminalLIVE
FINWIRES

DAX Index

^DAX
IndexIndex

114 stories mentioning DAX IndexUpdated 2d ago

Germany's DAX rose on US-Iran peace-deal optimism and cooling inflation data, holding roughly steady after the ECB raised its key rates by 25 basis points.

What's the latest news on DAX Index?

Asia Markets

German Blue-chip DAX Index Closes Lower; Eurozone Inflation Cools

German shares ended Friday's trading in the red, with the blue-chip DAX index closing the week 0.34% lower, after the market digested the latest eurozone inflation print alongside updates on escalating tensions in the Middle East.According to final data from Eurostat, the euro area's annual inflation fell to 2.8% in June from 3.2% previously, in line with the flash estimate. Meanwhile, the annual core rate, which excludes energy, food, alcohol and tobacco, came in at 2.4%, consistent with the initial reading and below the prior month's 2.6%."Lower oil prices than the European Central Bank (ECB) expected and the absence of second-round effects on inflation will prompt the ECB to leave the deposit rate at 2.25% at its meeting on 23 July. ECB President Christine Lagarde will not provide any forward guidance at the press conference and will retain maximum flexibility for the remaining meetings this year. If there is no further significant escalation in the Middle East - and consequently in energy prices - we do not expect the ECB to raise interest rates any further," Berenberg said in a preview note.In geopolitical news, the US and Iran continue to exchange retaliatory attacks, as oil prices fluctuated throughout the trading session. Raising fears of further supply chain disruption, a Reuters report, citing three sources familiar with the matter, claimed Tehran instructed its Houthi allies in Yemen to prepare to block the Red Sea oil route if the US targets the Iranian power infrastructure.On the corporate front, Siemens Healthineers (SHL.F) was down 0.11%, as RBC Capital Markets forecasts midterm margin upside potential with projected growth acceleration starting in fiscal 2027 for the German healthcare company."We see SHL as well-positioned to deliver mid-to-high-[single-digit] core sales growth and [double-digit] earnings growth from FY27. Consensus looks conservative on mid-term margins and a potential Diagnostics carve-out offers optionality for deleveraging and capital reallocation. Although we lower our PT to EUR45/sh (from EUR55) on peer de-rating and near-term challenges, we retain our Outperform rating, with c.30% implied upside," RBC wrote.Outside the main index, Uniper (UN0.F) confirmed its plan to invest 5 billion euros through 2030 as part of its transformation strategy. According to the state-owned utility, half of the allocated amount will be for Germany, with a focus on flexible generation capacity. Uniper gained 1.18% on Xetra.Investors will look ahead next week to a slate of economic data, including June producer price index figures, the July ZEW Economic Sentiment Index and PMI readings, and the August GfK Consumer Confidence survey.

^DAX$SHL.F$UN0.F
Asia Markets

German Stocks Fall; Delivery Hero Gains Amid Takeover Deal

Germany's blue-chip DAX index extended its losing streak, closing 0.53% in the red on Thursday, while Delivery Hero (DHER.F) shares rose as it agreed to an acquisition offer from Uber Technologies (UT8.F).Delivery Hero shareholders are being offered 41.50 euros per share under the ride-hailing giant's voluntary takeover bid, which values the food delivery platform at $14.8 billion, or $13.7 billion when adjusted for Uber's previous stake purchases."The weeks since Uber's potential takeover offer in May appear to have been used to put in place a deal structure addressing the transaction's regulatory and financial complexity, notably through the parallel carve-out to SSW Partners. With Uber's existing position and irrevocable tender commitments materially reducing acceptance risk, we raise our price target to EUR 41.50 [from EUR 33] and recommend shareholders tender their shares into the offer. SELL (before: HOLD)," mwb Research said. Delivery Hero was up 0.13% on Xetra, while Uber's Frankfurt-listed shares lost 0.17%.On the geopolitical front, media reports claimed US President Donald Trump is weighing a potential expansion of military operations in Iran after a series of meetings with his top aides. The Wall Street Journal reported that proposed actions include escalating airstrikes, ground troop deployment to capture Iranian islands near the Strait of Hormuz, and bombing fortified sites suspected of housing covert nuclear operations."With Strait traffic contracting in recent days, the prospect of a regression to a pre-[memorandum of understanding] environment has spurred a resurgence in concern about inventory levels; we estimate that since the MoU, we have seen incremental crude exports from the Mideast Gulf equivalent to an additional ~40-day buffer for global inventories," RBC Capital Markets wrote.Closer to home, the euro area recorded a trade deficit of 7.8 billion euros in May, against a revised deficit of 1.2 billion euros in April and the consensus estimate of 2.8 billion euros. Eurostat reported that exports of goods to the rest of the world ticked up 0.1% year over year to 243.6 billion euros, while imports rose 10% to 251.4 billion euros.

^DAX$DHER.F$UT8.F
Asia Markets

Germany's DAX Index Slips; BASF Shares Drop After Preliminary Q2 Update

German shares ended Wednesday on a downbeat note, with the blue-chip DAX index closing 0.51% lower, as the market weighed fresh earnings and corporate updates alongside news on tensions in the Middle East.BASF (BAS.F) was one of the index's worst-performing stocks, ending the session 2.93% in the red, after the publication of its preliminary second-quarter results. Investors looked past the German chemical company's year-over-year sales jump to 17.2 billion euros from 14.8 billion euros, choosing instead to focus on BASF's negative free cash flow for the quarter and a downgraded macroeconomic outlook impacted by the geopolitical volatility caused by the US-Iran war.Meanwhile, BofA Global Research cut the price objective of Rheinmetall's (RHM.F) buy-rated stock to 1,300 euros from 1,770 euros, citing concerns about the defense group's weapons and ammunition growth outlook amid shifting procurement priorities."Weapons & Ammunition (W&A) remains the largest division in Rheinmetall's 2030 framework. At the [capital markets day], management outlined a path to EUR14-16bn of revenue & c.30% EBIT margins by 2030, driven by artillery, medium-calibre ammo and missiles. However, the conflicts in Ukraine and the Middle East increasingly demonstrate the importance of drones and precision strike systems, which we believe will divert spending away from traditional artillery," BofA wrote.Separately, Rheinmetall said it signed a memorandum of understanding with Space Norway to strengthen the joint development of space-based defense technologies, particularly related to maritime domain awareness. Rheinmetall lost 0.33% at the end of the trading day.On the geopolitical front, oil prices continued to climb as the US initiated fresh strikes and reimposed its naval blockade against Iran, while Tehran threatened to disrupt more regional energy exports in retaliation. The tit-for-tat attacks come as US President Donald Trump abandoned a planned 20% Strait of Hormuz shipping tax in favor of "Trade and Investment Deals that the various Gulf States will be making into the United States.""As confidence in the security of the Strait continues to erode, markets will increasingly need to price in the prospect of more prolonged supply disruptions, a shift that has already contributed to firmer global gas prices over the past week," Rystad Energy said in a gas and liquefied natural gas market update.In economic news, Eurostat data showed a 0.2% monthly decline in the euro area's industrial production for May, compared with a revised 0.3% increase in the previous month and a market forecast of a 0.3% gain. Annual eurozone industrial production fell by 1.2%, against the revised 0.4% growth earlier and the expected 0.5% decline.

^DAX$BAS.F$RHM.F
Asia Markets

German Equities Close Higher; US-Iran Tensions Flare

Germany's blue-chip DAX index was in the green on Tuesday, closing 0.12% higher, following US threats to block Iranian ports again and impose a 20% transit fee on vessels passing through the Strait of Hormuz."Whether this is actually being implemented cannot be definitively assessed as of this morning. We doubt, however, that the U.S. is militarily capable of securing the route in such a way that ship transit is possible without any danger. Instead, this seems to us to be more of a negotiating tactic intended to pressure Iran into making concessions during the negotiations," Metzler Capital Markets said.On the geoeconomic front, an ifo Institute study warned that the European Union faces the risk of failing to achieve its critical raw material independence targets amid a lack of concrete projects and inadequate geological data. To secure the resources needed for technologies required for segments like defense, renewables and semiconductor manufacturing, ifo researcher Isabella Gourevich urged the EU to move past declarations of intent and immediately fund partnerships and local mining projects, noting that developing untapped deposits could take up to 18 years.In local economic news, Germany's selling prices in wholesale trade were up 4.9% year over year in June, after a 5.9% increase in May. Monthly wholesale prices were 0.7% lower, compared with the consensus estimate of a 0.5% gain. Destatis mainly attributed the increase to the Middle East conflict, which drove prices of energy products and raw materials higher.On the corporate side, Deutsche Bank (DBK.F) partnered with the World Bank Group's Multilateral Investment Guarantee Agency on a 1 billion-euro platform to expand trade finance in emerging and frontier markets. As part of the deal, the agency will offer guarantees to the German lender against non-payment risks from eligible state-owned banks. Deutsche Bank gained 1.52% at closing.Meanwhile, Deutsche Bank Research trimmed the price target of Carl Zeiss Meditec's (AFX.F) hold-rated stock to 28 euros from 30 euros amid concerns that its fiscal 2026 guidance "looks like a stretch" ahead of the company's fiscal third-quarter results due on Aug. 6."On the earnings front, however, we expect a 7% year-over-year decline in adjusted EBITA, implying a margin of 9.8% (-110bps). This would bring our nine-month margin forecast to 7.5%, meaning a significant acceleration would be needed in the fourth quarter to reach the full-year guidance range of 8-10%. Achieving this appears to be a stretch, as it also relies on improving refractive laser procedure trends in China. Consequently, we would not be surprised if management points toward the low end of the guidance range with the results; our own forecast currently sits in the lower half of this range," the research firm said. The medical technology company ended the trading day 10.77% in the red.

^DAX$AFX.F$DBK.F
Asia Markets

DAX Index Ticks Up; German Current Account Falls

German equities closed the first trading day of the week higher, with the blue-chip DAX index up 0.19% at Monday's close, as the market assessed the latest economic data from the eurozone's largest economy alongside geopolitical updates.Germany posted a current account surplus of 10.4 billion euros in May, down by 6.2 billion euros month over month. The Bundesbank attributed the latest reading to a slight increase in trade surplus in goods, alongside a swing to deficit from surplus in so-called invisible current account transactions.Zooming out, the European Union and Bahrain launched negotiations on a strategic partnership agreement aimed at improving economic cooperation, resilience and innovation.On the Middle East war, multiple rounds of US airstrikes on Iranian defense systems and subsequent regional retaliation by Tehran sharply escalated the conflict over the weekend."The European gas market continues to look increasingly vulnerable to supply disruptions from the Persian Gulf. ... EU gas storage is currently less than 52% full, compared with a 5-year average of 67%. Continued supply tightness has coincided with heatwaves across Europe, increasing gas demand for power generation," ING said.In corporate news, Rheinmetall (RHM.F) said its share of a 15-year UK Army Collective Training System contract is worth just under 1 billion euros, as part of the involvement of its Rheinmetall Electronics UK unit with the Raytheon UK-led consortium. The German defense company will begin designing and delivering the land-based program in summer 2026. Rheinmetall was down 0.79% at closing.Maintaining its sell rating and price target of 62 euros, mwb Research cautioned that "stalling" domestic passenger volumes make Fraport's (FRA.F) full-year 2026 targets look "increasingly vulnerable.""Fraport's weak June and H1 traffic figures highlight a fragile domestic growth trajectory, with Frankfurt passenger volumes down 1.7% in June yoy and 0.8% in H1 yoy due to Lufthansa [LHA.F] strikes, high jet fuel prices, and geopolitical conflict in Iran. This stagnation creates an unfortunate mismatch with the April opening of the EUR 4bn Terminal 3 which adds 19m in annual passenger capacity and significantly escalates fixed costs. While a 1.0% increase in H1 group passengers offered minor cushion via international growth, performance there remains highly uneven," the research firm said. The Frankfurt airport operator gained 1.80% on Xetra, while Deutsche Lufthansa ended the session 4.14% in the red.

^DAX$FRA.F$LHA.F$RHM.F
Asia Markets

German Stocks End Week Lower; Bayer Falls Amid Apollo Deal

German shares closed the trading week lower, with the blue-chip DAX index 0.13% in the red on Friday, as investors assessed oil price movements amid renewed US-Iran tensions to gauge potential changes in upcoming central bank decisions."Geopolitical headlines and uncertainty on the durability of the peace deal in Iran are back. The oil price has increased from just above USD 70 per barrel to just below USD 80 over the last couple of days. We doubt this movement is large enough to "obviously" impact central bank decisions in September, but risk balances shift slightly," BofA Global Research said. "The renewed increase in oil prices marginally supports our assumption that the ECB is still more likely than not to hike again in September."For the week ahead, the economic data calendar includes the latest wholesale price report for Germany on July 14, while the eurozone industrial production report for June is due on July 15. Final June inflation prints from Spain and Italy are also due next week.On the corporate front, Bayer (BAYN.F) agreed to sell a minority, noncontrolling stake in its long-acting reversible contraceptives business to Apollo-managed funds and affiliates in exchange for 3 billion euros in equity capital. The German life sciences company said it will retain "complete operational control" of the business following the investment. The stock was down 1.03% at closing.Volkswagen (VOW.F) was also in the red during the trading session, closing 1.02% lower, as the executive board unveiled its future strategy, aiming to become "the most attractive automotive company in the world" by 2030. The proposed measures include an up to 50% reduction in the group's model lineup."The announcement lacks details on the timetable, costs and implications, as all these aspects still need to be agreed with the unions. The direction, however, is clear: a smaller, more efficient and less complex company focusing on the most profitable market segments. The emphasis will, of course, be on implementation; we doubt that the market will place much trust in VW," Metzler Capital Markets said.

^DAX$BAYN.F$VOW.F
Asia Markets

German DAX Index Climbs; SAP Slips After EU Accepts Antitrust Commitments

Germany's blue-chip DAX index recovered, closing 0.89% higher on Thursday, after investor caution resurfaced as the US and Iran traded strikes for a second straight day."All that led to a clear reaction for oil prices, with Brent crude (+5.20%) posting its biggest daily gain since May 4th, peaking at $80.59 [per barrel] but closing a couple of dollars lower. For reference, that's still a long way beneath its recent peak in absolute terms, having approached $120/bbl during the initial phase of the conflict. But it's a clear shift away from the downward trajectory for oil back in Q2, and the various headlines revived fears about a more persistent inflationary shock," Deutsche Bank Research said.In other geopolitical news, Germany secured US approval to purchase RTX's Raytheon-manufactured Tomahawk cruise missiles, The Defense Post reported, citing a parliamentary statement by German Chancellor Friedrich Merz. The deal for the long-range missiles was struck on the sidelines of the NATO meeting in Ankara, Turkey.On the trade front, the Federal Statistical Office reported that Germany's calendar and seasonally adjusted trade surplus was 19.1 billion euros in May, above the revised 14.7 billion euros in April and the market forecast of 14.9 billion euros.Exports ticked up 0.9% month over month, against the revised 0.8% gain and the expected 0.3% decline. Meanwhile, monthly imports fell 2.5%, compared with the revised 1.1% growth previously and the consensus estimate of a 0.1% increase.On the corporate side, SAP (SAP.F) was one of the index's worst performers, closing 0.16% in the red, after the European Commission made the German software company's antitrust commitments legally binding to resolve competition concerns regarding its on-premises software aftermarket support.Meanwhile, Deutsche Bank Research upgraded its price target for Schott Pharma's (1SXP.F) buy-rated stock to 23 euros from 22 euros after the drug containment and delivery group published its preliminary fiscal third-quarter results."Schott Pharma has pre-released stronger-than-expected Q3 results, with preliminary figures pointing to 8% organic sales growth and a 27% EBITDA margin, coming in 4% and 2% ahead of consensus, respectively. Furthermore, the company has raised its FY26 guidance, now projecting 5-6% organic sales growth (up from 2-5%) and an EBITDA margin of 27-28% (previously ~27%), which should drive consensus earnings estimates up by around 4%. The company attributed the raised outlook to strong business performance and a newly reached agreement with a key customer for glass syringes," the research firm said, adding that the beat and guidance raise should act as a major catalyst for the stock. Schott Pharma was up 13.51% on Xetra.

^DAX$1SXP.F$SAP.F
Asia Markets

German Shares Fall as US-Iran Tensions Reignite

Germany's blue-chip DAX index extended its losing streak, closing 2.35% lower on Wednesday, as renewed US-Iran conflict dragged the vast majority of its constituents.Following recent shipping attacks in the Strait of Hormuz, US forces struck over 80 Iranian targets, including air defense systems, command networks, and missile capabilities. This military action was paired with a US Treasury decision to revoke an Iranian oil-sale waiver. In response, Iran's ​Revolutionary Guards said they targeted US military bases in Bahrain and Kuwait.After these latest attacks, US President Donald Trump said the interim memorandum of understanding with Iran was "over," signaling an unwillingness to pursue further diplomacy with Tehran."The developments have reignited concerns about energy supplies and geopolitical risk, helping Brent crude rise more than 2% and trade near $76 [per barrel] this morning after rising more than 5% yesterday, driven by the fresh attacks on ships in the Strait of Hormuz, with Monday seeing the most incidents since the US-Iran interim agreement came into effect on June 17," Deutsche Bank Research said.Meanwhile, the International Monetary Fund cut its growth forecasts for Germany and the euro area, citing the impact of the Middle East war on energy prices and consumer confidence, as well as the accelerating global technology cycle. The IMF now expects Germany's economy to expand 0.7% in 2026 and 1% in 2027, down from its April forecasts of 0.8% and 1.2%, respectively, while lowering its 2026 eurozone growth projection to 0.9% from 1.1%. It left its 2027 eurozone forecast unchanged at 1.2%.In corporate news, Mercedes-Benz Group (MBG.F) reported first-half sales of 1,011,500 cars and vans, marking a 6% decline from a year ago. Car sales fell 7% to 837,200 units, while van deliveries slid 1% to 174,300 units. The German automotive company shed 4.18% at closing.Meanwhile, Berenberg increased its price target and earnings forecasts for the buy-rated Scout24 (G24.F) on the artificial intelligence-supported growth outlook."We strongly believe that instead of a headwind, artificial intelligence (AI) can provide a tailwind for real estate classifieds in general, and for Scout24 in particular. We believe that Scout24 is at the forefront of AI innovation. As such, we overhaul our mid- and long-term outlook for the company, as we expect accelerating revenue and earnings growth driven by AI initiatives. We raise our 12-month price target to EUR140 [from EUR100] but see the potential for the shares to more than double to EUR180 on a three-year investment horizon," the research firm wrote. The German real estate portal operator ended the session 1.50% in the red.

^DAX$G24.F$MBG.F
Asia Markets

Blue-chip DAX Index Rises; German Private Sector Contraction Slows

German shares ended the last trading day of the week in the green, as the market assessed the latest private sector data.At Friday's close, the blue-chip DAX index was up 0.78%.Business survey data compiled by S&P Global showed an easing contraction in Germany's private sector, with manufacturing gains overshadowed by a persistent, albeit moderating, downturn in service sector activity. The final S&P Global Germany Composite PMI Output Index stood at 49.5 in June, up from the previous 48.8 and the flash estimate of 48."Encouragingly, cost pressures subsided considerably across the service sector in June, helped by the reduced price of fuel. However, the dynamics for the coming months are somewhat unclear, as whilst global oil prices have fallen closer to pre-conflict levels, the temporary fuel tax cut has now ended and developments in the Middle East remain unpredictable," S&P Global Market Intelligence economics associate director Phil Smith said.Zooming out, the final seasonally adjusted S&P Global Eurozone Composite PMI Output Index hit a three-month high of 50 in June, against the 48.5 previously and the flash estimate of 49.5, marking the index's return to expansion territory. The euro area's private sector stabilized for the month, as an expansion in manufacturing output offset a slowing decline in services activity.In corporate updates, Deutsche Bank Research cut its price target for Rheinmetall's (RHM.F) buy-rated stock to 1,800 euros from 2,100 euros ahead of the German arms maker's second-quarter earnings report on Aug. 6."After the [Federal Ministry of Defence] scrapped the F126 program, the focus of the quarter will no longer be on reaching the EUR20bn order indication the company had initially given but clearly on delivering the guided Q2 top-line growth. In an ad hoc release before the pre-close call, the company confirmed the Q2-26 top-line message, which is a positive and in line with our thinking. On the other hand, unsurprisingly, the company points to a shortfall versus the EUR20bn order intake guide. Furthermore, Rheinmetall quantified the F126 financial fallout with a surprising FY26 impact," the research firm wrote, noting it maintained a "positive view" on the stock. Rheinmetall lost 1.94% at the end of the session.Fellow defense company Renk Group (R3NK.F) fell 0.98% after agreeing to buy UK-based high-precision gearbox manufacturer David Brown Defence through a purchase of shares in DB Defence Holdco. The military and civilian propulsion systems maker expects the deal will bolster its naval defense business.

^DAX$R3NK.F$RHM.F
Asia Markets

German DAX Index Climbs as Berlin Rolls Out Economic Reform Package

German equities closed Thursday's session higher, with the blue-chip DAX index gaining 2.16%, after German Chancellor Friedrich Merz's ruling coalition unveiled a comprehensive economic stimulus package.The measures include 10 billion euros in annual tax cuts for lower-income groups, pension reforms, initiatives to expand affordable housing, and a plan to target welfare fraud, among others."The reform package shows that both coalition partners were willing to compromise and that the government is embarking on structural reforms to be implemented by year-end. This should bode well for sentiment and dovetails with our forecast that growth will pick up in the second half of the year," Deutsche Bank Research said.In geopolitical news, Qatar's Foreign Ministry spokesperson Majed Al Ansari said in a social media post that indirect technical talks for a US-Iran peace deal in Doha yielded "positive progress" on select elements of the June memorandum of understanding. The next round of talks is scheduled to resume "at the earliest possible time" after the state funeral and processions for Iran's late Supreme Leader Ayatollah Ali Khamenei, according to the Qatari ministry official.On the corporate front, Bayer (BAYN.F) was up 8.90%, rising to the top of the blue-chip index, after announcing plans to move its US glyphosate operations under a newly established holding company called Ruveon. The German pharmaceuticals and crop science group aims to streamline its Roundup weedkiller business and tailor its operations to the US market.Separately, Deutsche Bank Research upgraded Bayer to buy from hold and increased its price target by 33.3% to 60 euros following last week's major US Supreme Court victory ruling in its favor on glyphosate failure-to-warn claims. "This ruling makes the settlement considerably more likely to hold. All in all, we believe it should effectively cap the glyphosate exposure within existing provisions," the research firm wrote, noting that investor focus should begin shifting back to fundamentals.Meanwhile, European land defense group KNDS paused its planned initial public offering and market listing in Frankfurt and Paris, citing current defense sector volatility. The company's shareholders plan to resume the process once market conditions improve.

^DAX$BAYN.F
Asia Markets

Germany's DAX Index Gains as Eurozone Inflation Slows

German shares ended the session in the green on Wednesday, with the blue-chip DAX index rising 0.18%, after the release of key economic data, including the eurozone's latest inflation print and manufacturing PMI survey results.Flash data from Eurostat showed that annual inflation in the euro area was 2.8% in June, against May's 3.2% and the market forecast of 3%. Meanwhile, the core rate, which excludes energy, food, alcohol and tobacco, stood at 2.4%, down from the previous 2.6% and the expected 2.5%."The drop in June was in part related to oil price declines, which are starting to translate into lower prices at the pump... Then again, the question is whether current favourable oil price levels can persist. As the Dutch and Germans found out at the World Cup, temporary excitement can quickly turn to misery if the underlying fundamentals remain shaky. But even at somewhat higher prices, it seems that worst-case scenarios have become less likely," ING wrote.Back home, S&P Global reported that the final headline German Manufacturing PMI ticked up to 50.3 in June from 50.1 a month ago, above the flash estimate of 50 and near the 50-point no-change mark. The sector remained in expansion territory as a small, renewed increase in new orders lifted output amid the first signs of easing cost headwinds.On the geopolitical front, US President Donald Trump said discussions with Iran in Qatar had been constructive and would continue. The talks have raised expectations for further diplomatic progress towards a lasting ceasefire.In corporate news, Rheinmetall (RHM.F) was the DAX index's top stock, climbing 6.07%, as the German arms maker finalized its purchase of a 51% majority interest in Croatia-based Dok-Ing from founder and previous sole owner Vjekoslav Majetić, who will retain a 49% share. The acquisition of the company, which will be renamed Rheinmetall Unmanned Vehicles, expands Rheinmetall's portfolio to include unmanned vehicles.Meanwhile, Deutsche Bank Research upgraded Nordex Group's (NDX1.F) price target to 61 euros from 59 euros and reiterated its buy rating ahead of the German wind turbine manufacturer's second-quarter earnings report on July 29."We expect a 5% beat on the Q2 Project order intake, a +2% beat on Q2 group revenues and a +5% beat on adj EBITDA vs consensus. Positives in the quarter include the 1st sizable set of US orders in a while and good weather and supply chain-positive for installations and margins," Deutsche Bank wrote. Nordex gained 0.78% at closing.

^DAX$NDX1.F$RHM.F
Asia Markets

DAX Index Rises as German Inflation Eases

Local equities gained on the last trading day of June, with the blue-chip DAX index up 1.43% at Tuesday's closing, as the market assessed Germany's latest inflation figures and awaited updates on the anticipated US-Iran talks in Qatar.Preliminary data from Destatis showed German annual inflation eased to 2.3% in June, against the previous and expected 2.6%. The core annual inflation rate, which excludes food and energy prices, remained unchanged at 2.5%."Looking ahead, as today marks the last day of the government's tax rebate on fuel, inflation should accelerate again next month, even if global energy prices have come down. Beyond the fiscal stimulus reversal, we still expect some knock-on effects from higher energy prices on transportation costs, food prices and other industrial products over the coming months," ING said.On the jobs front, the federal agency Bundesagentur für Arbeit reported that Germany's unemployment rate remained at 6.3% in June, as expected. The number of unemployed individuals in the country declined by 1,000, compared with the 12,000 drop earlier.On the corporate side, Siemens Energy (ENR.F) rose to the top of the DAX, climbing 5.68%, as BofA Global Research increased its earnings assumptions for the German energy technology company and raised the price objective on the buy-rated stock to 260 euros from 250 euros."We expect ENR to report a solid Q3. Our group order [estimate] is 'only' +4% vs cons (BofAe EUR17.6bn vs cons EUR17.0bn) but we see double-digit upside in Gas (EUR9.0bn vs EUR7.4bn) and Grid (EUR6.0bn vs EUR5.4bn), offset by Gamesa weakness given no offshore orders (EUR1.2bn vs EUR3.0bn); we would expect investors to focus on the Gas & Grid strength," BofA wrote.Meanwhile, the Federal Financial Supervisory Authority, or Bafin, concluded its audit of Mutares' (MUX.F) full-year 2023 financial statements with zero objections. The private equity company noted that a single missing disclosure regarding the remaining term of certain receivables was already corrected in subsequent filings.Separately, Mutares' portfolio company Amaneos finalized the acquisition of automotive supplier Magna's European automotive lighting business through its subsidiary, Light Mobility Solution. Mutares was up 0.37% on Xetra.

^DAX$ENR.F$MUX.F
Asia Markets

Germany's DAX Index Down Amid Reports of Tentative US-Iran De-escalation

Germany's blue-chip DAX index ended the Monday session on a downbeat note, closing 0.18% lower, as investors assessed reports that the US and Iran temporarily halted attacks ahead of planned talks in Doha, Qatar.Following tit-for-tat weekend strikes, Reuters reported, citing a source with knowledge of the talks, that American and Iranian technical teams are scheduled to meet in Qatar's capital city on Tuesday to focus on defusing tensions and managing the Strait of Hormuz."Both sides are said to be standing down for now, allowing shipping flows to continue, although disputes over key provisions of the memorandum of understanding-particularly around control and potential costs for transit through Hormuz-mean the situation remains fragile and risks to regional stability persist. Brent is up +0.71% this morning," Deutsche Bank Research wrote.On the economic side, markets are monitoring the ongoing European Central Bank's Sintra Forum, featuring speakers such as US Federal Reserve Chief Kevin Warsh and ECB President Christine Lagarde. Economic data for the week includes flash June inflation prints in Germany due on Tuesday and for the eurozone on Wednesday.In corporate updates, Zalando (ZAL.F) was one of the best performers, gaining 0.92%, as Berenberg reiterated its buy rating and price target of 53 euros on the German online retailer ahead of the company's second-quarter results."We make no change to our sales or profit estimates, with our Q2 estimates currently set on the cautious side of consensus. We view FY 2026E as a year of transition as Zalando [rationalizes] its logistics network and restructures the About You business; however, we do expect ongoing growth for the company across [business-to-consumer and business-to-business] from a structural perspective," Berenberg said, adding its positive stance on the company is underpinned by its "moderate" top-line growth, EBIT margin expansion potential, alongside unique consumer offering tailored for the age of artificial intelligence.Meanwhile, Nordex Group (NDX1.F) secured a wind turbine supply order for 55 N163/5.X turbines with a total capacity of 325 megawatts from an undisclosed US customer. The German wind turbine manufacturer climbed 1.09% at close.

^DAX$NDX1.F$ZAL.F
Asia Markets

German Shares End Week Lower; Zalando Slips on Regulator Probe

German equities were in the red on the last trading day of the week, with the blue-chip DAX index down 1.29% at Friday's close, as shares in Zalando (ZAL.F) fell after the launch of a financial regulatory investigation.Zalando was the worst performer, with its shares falling 6.32%, after the German Federal Financial Supervisory Authority, or BaFin, initiated a probe into the online retailer's full-year 2025 financial results over an alleged accounting breach, noting a potential failure to disclose a related-party transaction tied to its acquisition of About You Holding.Meanwhile, some technology headlines weighed on investor sentiment, including news of Apple Inc. (APC.F) passing rising component costs to consumers and a New York Times report saying that OpenAI might push back its highly anticipated initial public offering.Against this backdrop, German semiconductor manufacturer Infineon Technologies (IFX.F) declined 4.52%, while Apple's Frankfurt-listed shares lost 0.20% on Xetra.In economic news, consumer inflation expectations in the euro area declined month over month. Based on the latest monthly European Central Bank Consumer Expectations Survey, median expectations for inflation for the next 12 months fell to 3.5% in May from April's 4%. Meanwhile, the forecast for the next three years and the five years ahead remained unchanged at 2.9% and 2.4%, respectively.Back home, the ifo Institute said that German companies are accelerating their headcount reductions amid persistent market weakness, noting the layoffs are affecting most sectors except for the construction industry, which intends to maintain staffing levels "largely constant." The ifo Employment Barometer ticked down to 92.3 points in June from 93.9 points a month ago.German Chancellor Friedrich Merz's coalition is said to be negotiating up to 20 billion euros in income tax relief as it seeks to advance its broader economic reform agenda. Leaders of the coalition will meet on Sunday to resolve differences over the proposed tax cuts, according to a Bloomberg News report.On the geopolitical front, an attack on a cargo ship near Oman prompted the UN's maritime organization to pause its Strait of Hormuz escort operation, raising doubts over the preliminary peace deal between the US and Iran. "Iran's Persian Gulf Strait Authority warned that ships outside its designated routes travel at their own risk, while shipping data showed crude flows through Hormuz have risen to their highest level since the war began," Danske Bank wrote.

^DAX$APC.F$IFX.F$ZAL.F
International

Spanish Annual Producer Prices Up 10.5% in May

Producer prices in Spain jumped 10.5% year over year in May, following a revised 8.5% growth previously, data from the National Statistics Institute showed Thursday.On a monthly basis, the industrial price index was 1% higher, after a revised 2% increase in March.

^SXXP
Asia Markets

DAX Index Falls; Rheinmetall Plunges on Canceled German Naval Deal

The blue-chip DAX index closed Wednesday 0.62% lower, driven by Rheinmetall (RHM.F), which tumbled following news that Germany scrapped its F126 frigate program.Citing significant delays, cost inflation, and structural risks, Germany's defense ministry revoked its contract for six F126-class Navy frigates. The sudden cancellation of the program sent Rheinmetall's shares falling 18.65%, as the defense company was said to be lined up for the deal, Reuters wrote in a same-day report.Mwb Research warned that the cancellation puts Rheinmetall's naval business outlook at risk. "The F-126 frigate cancellation strips Rheinmetall of the crown jewel that justified the NVL acquisition and anchored 2030 Naval guidance. We're resetting Naval revenue from EUR 5bn to EUR 3bn which reflects both the loss of F-126 core revenue and the reality of a shipyard running below capacity," the research firm wrote.To meet the country's anti-submarine warfare needs, the German defense ministry said it would pivot to purchasing eight Meko A-200-DEU frigates. According to Reuters, these Meko-class vessels are manufactured by TKMS AG & Co. (TKMS.F). The shipbuilder rose 16.07% on Xetra.In other defense-related news, pan-European land defense group KNDS confirmed plans to launch an initial public offering, with listings on both the Frankfurt Stock Exchange and the Euronext Paris, to help scale operations and meet the growing demand from modernizing European armed forces.On the economic front, the ifo Institute's business climate indicator rose to 85.6 points in June, as expected, from the revised 85 points in May. The expectations indicator also ticked up to 84.1 points from the revised 83.9 points earlier, while the current conditions index edged up to 87 points from 86.1 points."Somehow, the German - and indeed the wider European - economy remains in a kind of twilight zone. Hard data will continue to show the fallout from the war in the Middle East and soaring energy prices, while soft data such as this morning's Ifo index, points to a return of optimism," ING wrote, attributing the improved sentiment to the US-Iran peace talks and the reopening of the Strait of Hormuz.Speaking of the Middle East conflict, the US Senate voted 50-48 to pass a war powers measure aimed at restricting President Donald Trump's ability to initiate military action against Iran without prior authorization from the US Congress. "Although its legal force is disputed, the vote signals growing bipartisan scepticism over the administration's Iran policy," Danske Bank said.

^DAX$RHM.F$TKMS.F
Asia Markets

Blue-chip DAX Index Slips as German Private Sector Further Contracts

German shares ended Tuesday in the red, with the blue-chip DAX index down 0.98% at closing, as the market evaluated the latest flash PMIs alongside updates on the US-Iran peace talks.Business survey data compiled by S&P Global showed that private sector output in Germany contracted for the third consecutive month amid a faster decline in activity due to persistent weakness in underlying demand. The Flash Germany Composite PMI Output Index came in at an 18-month low of 48 in June, down from the previous 48.8 and the market forecast of 49.9.Zooming out, the flash composite PMI for the eurozone hit a three-month high of 49.5 in June, compared with the previous 48.5 and the expected 49.1, as the private sector downturn eased amid a modest rise in manufacturing output and a softer decline in services activity."This still marks sluggish economic activity for the bloc, but the easing of price pressures indicated by the survey is encouraging. The combination of sluggish growth and fading inflation concerns marks a dovish reading for the [European Central Bank]," ING said.On the geopolitical front, the US waived sanctions on Iran until Aug. 21, enabling Tehran to sell oil and related products. The 60-day waiver serves as the initial phase of economic relief promised under the memorandum of understanding between the two nations to secure a final peace deal.In corporate news, RWE (RWE.F) was up 0.07% after the German energy group launched a private placement to finance its purchase of an additional stake in German power grid operator Amprion."RWE announced a c.EUR4bn private placing, with EUR1bn committed, intending to grow its Amprion stake to 55%. Deal looks attractive at 1.07x 2027E RAB, expected to add 15cents to RWE's 2031 adj. EPS. We view the transaction as strategically strong and see market appetite for more equity," Barclays said in a quick-take note.Rheinmetall (RHM.F) secured a mid-three-digit million-euro order to deliver 23 Bergepanzer 3 Büffel armored recovery vehicles to the German armed forces between December 2027 and June 2029. The order is intended to replace the vehicles that Germany previously provided to Ukraine. The German arms maker lost 1.92% at the end of the trading session.

^DAX$RHM.F$RWE.F
Asia Markets

German Shares Climb as US-Iran Peace Talks Advance

German equities closed Monday's trade in the green, with the blue-chip DAX index gaining 0.66%, as the US and Iran move forward with peace negotiations.The two countries concluded their initial round of mediated talks in Switzerland, facilitated by Pakistan and Qatar, agreeing to a 60-day roadmap aimed at achieving a final deal. The sides also discussed measures such as a direct communication line to protect commercial maritime transit through the Strait of Hormuz and a mechanism to end military operations in Lebanon."This marks a notable shift from Saturday's confusion, when Iran suggested the strait was now closed again after Israeli attacks in Lebanon, and briefly stepped back from talks following renewed threats from President Trump," Deutsche Bank Research said, noting that oil flows through Hormuz continued and even increased over the weekend, helping calm markets.Market watchers are also awaiting key economic updates for the week, including June flash PMIs for Germany and other major European economies due on Tuesday, followed by Germany's ifo business climate survey on Wednesday and the latest GfK consumer confidence data on Thursday.On the corporate front, Infineon Technologies (IFX.F) climbed 4.84% as BofA Global Research maintained its buy rating and price objective of 108 euros, saying the July opening of the fabrication plant in Dresden, Germany, secures the infrastructure required for the artificial intelligence-related power demand."The fab marks the largest single investment in Infineon's history, following the company's 2022 announcement of a EUR5bn investment into the site's power semiconductor and analog/mixed-signal capacity. Its opening comes at a critical point, as Infineon remains capacity constrained in AI power. Dresden, alongside incremental capacity from Villach, Kulim and redeployed IGBT comfortably underpins our EUR3.9/EUR5.9bn DC/AI revenue forecast in 27/28E, driving mix to 20%/25% of group sales (vs. 8% in '25)," BofA said.Meanwhile, German infrastructure group Hochtief (HOT.F) joined the blue-chip DAX index today, replacing Porsche Automobil Holding (PAH3.F), d/b/a Porsche SE. The holding company transitioned to the mid-cap MDAX following an index reshuffle announced in early June. Hochtief rose 3.13%, while Porsche SE was down 1.08% on Xetra.

^DAX$HOT.F$IFX.F$PAH3.F
Asia Markets

Blue-chip DAX Index Ends Flat; German Producer Prices Rise

The blue-chip DAX index ended the last trading session of the week flat, as investors digested fresh producer price data alongside a new US trade probe launched against Germany's pharmaceutical sector.Destatis reported that annual producer prices rose 2.2% in May, compared with a 1.7% gain earlier and the market forecast of a 2.5% jump. Monthly producer prices were 0.3% higher, missing the expected 0.7% uptick. The German Federal Statistical Office attributed the year-over-year increase to higher costs of intermediate goods and energy prices.On the trade front, the US government launched an investigation aimed at determining whether pharmaceutical pricing policies in Germany pose "unreasonable or discriminatory" barriers to American commerce. According to US Trade Representative Jamieson Greer's office, the investigation came after "months of meaningful discussions" with German partners to settle the matter."I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals. This is a serious step backwards at a time when our trading partners need to step up and start paying their fair share to fund innovative pharmaceutical research and development," Greer said.Meanwhile, geopolitical uncertainty resurfaced after the Swiss Federal Department of Foreign Affairs confirmed that the scheduled peace talks between the US, Iran, Qatar and Pakistan were postponed. The delay threatens to cloud the outlook for the recently signed temporary agreement.In corporate news, Commerzbank (CBK.F) pushed back against UniCredit's claim of support for its takeover bid, arguing that the disclosed 12.51% acceptance rate was largely driven by banks and parties linked to the Italian lender. Commerzbank toldthat acceptance among institutional and retail investors was "just slightly above 1%." The German bank gained 0.70% at Friday's close.AlphaValue/Baader Europe cut its full-year 2026 and 2027 EPS estimates for Mercedes-Benz Group (MBG.F) by 15.2% and 20.7%, respectively, to 4.72 euros and 5.75 euros, flagging a "significantly" lower 2026 passenger car registration forecast from the China Passenger Car Association."This deterioration in the market outlook leads us to expect a weaker-than-previously-anticipated performance in China for Mercedes. In addition, BMW [BMW.F] recently highlighted increasing competitive pressure across the broader Asia-Pacific region, most likely as Chinese [original equipment manufacturers] continue to increase exports to these regions, further exacerbating pricing pressure, a headwind that we also expect to affect Mercedes. Consequently, the risk of a profit warning appears to be increasing," the research firm wrote. Mercedes-Benz gained 0.85%, while BMW climbed 0.57%.

^DAX$BMW.F$CBK.F$MBG.F
Asia Markets

German Stocks Extend Gains as US-Iran Sign Interim Peace Deal

German shares extended their gains on Thursday, with the blue-chip DAX index climbing 0.37%, as the US and Iran signed a tentative peace agreement earlier than anticipated.Ahead of an initially expected Friday timeline, US President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, digitally signed a memorandum of understanding aiming to permanently end their conflict and reopen the Strait of Hormuz. The news boosted market sentiment and helped drive oil prices lower.On the economic side, the ifo Institute reduced its 2027 price-adjusted gross domestic product growth projection for Germany to 0.8% in its summer economic forecast, from 1.2% previously, while maintaining its 2026 assumption at 0.8%. Even as estimates are based on a gradual decline in energy prices following the US-Iran peace agreement, the research institute warned that prices could remain above pre-war levels, potentially shaving 0.4 percentage points off growth in both 2026 and 2027."While a massive energy price shock caused by the Middle East conflict is slowing down the economy, a highly expansionary fiscal policy is supporting growth. The economy is currently being shaped by conflicting forces," the ifo wrote.On the corporate front, Siemens Energy (ENR.F) was DAX's top stock, closing 4.70% higher, as the German energy technology company confirmed withthat it is evaluating the long-term setup of its Transformation of Industry unit in an effort to accelerate its growth. Siemens Energy said that no final decisions have been made, clarifying an earlier report by Manager Magazin, citing confidential internal documents. The report stated that the company is weighing a potential spinoff of its compressors and steam turbines division.Meanwhile, Deutsche Bank Research forecasts BASF's (BAS.F) second-quarter EBITDA will beat market expectations, while anticipating that the German chemicals company will affirm its full-year 2026 outlook during its earnings report on July 29."We forecast Q2 EBITDA to be up 31% YoY to EUR2.088bn (2% above consensus), driven by strong growth in the upstream businesses on improved pricing/margins alongside higher volumes. We expect mgmt to reiterate the FY 26 EBITDA guidance of EUR6.2-7.0bn. Yet we remain slightly above despite modest EPS cuts (1-4%) to reflect the [faster-than-expected normalization] of margins as supply disruptions ease. We are 8% above the mid-point and 2% above the high end of the range, but 2% below consensus," Deutsche Bank Research wrote. BASF was down 2.71% at closing.

^DAX$BAS.F$ENR.F

Showing 41-60 of 114

Track with the FINWIRES app suite

FolioX
FolioX
Track DAX Index in your portfolio
WheelAI
WheelAI
Analyze DAX Index options with the wheel strategy
StockInsider
StockInsider
See market sentiment on DAX Index