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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.

Asia Markets108d ago

German Stocks Down as US Moves to Block Iranian Ports

German equities kicked off a new trading week on a downbeat note, closing Monday's session 0.26% lower, as the US moved to seal the Strait of Hormuz after weekend peace talks ended without a deal."Markets have seen a clear risk-off move this morning after no deal was reached in the US-Iran talks over the weekend, with the US set to blockade the Strait of Hormuz for vessels entering or departing Iranian ports. So, despite last week's optimism when the two-week ceasefire was announced, the mood has shifted negatively once again, with Brent crude oil prices up +7.39% this morning to $102.24/bbl. And in turn, that's revived fears about a stagflationary shock, with equities and bonds losing ground around the world," Deutsche Bank Research said.With the Strait of Hormuz closure fueling a surge in energy costs, Bloomberg News reported that the European Commission is set to recommend reduced power grid fees and energy taxes, aiming to accelerate clean technology adoption while shielding the bloc's economy from volatile oil and gas prices. Citing people with knowledge of the matter, the news outlet said a formal policy paper outlining the relief measures is expected to be adopted by the European Union's executive arm on April 22.In economic news, investors are on the lookout for Tuesday's German wholesale price data and Thursday's final eurozone inflation reading for March. Market attention is also expected to shift to the ongoing International Monetary Fund and World Bank Spring meetings, with Tuesday's release of the IMF's World Economic Outlook anticipated to be a key focus.On the corporate side, Rheinmetall (RHM.F) and Norwegian defense technology company Destinus agreed to form a joint venture, Rheinmetall Destinus Strike Systems, focused on advanced missile production. The Unterlüß, Germany-based entity is expected to launch in the second half, pending regulatory approval, with the German defense supplier holding a 51% majority stake. Rheinmetall shares added 2.45% and the stock was the DAX's top gainer.Meanwhile, Deutsche Bank Research cut its price target for MTU Aero Engines' (MTX.F) buy-rated stock ahead of the company's first-quarter results due on April 30."We expect no impact from the Middle East conflict on Q1 activity, but some increased focus on MTU's sensitivity to potential engine retirements and its impact on midterm guidance. We lower our Price Target (PT) from EUR449 to EUR428 on more conservative cash conversion rates assumptions, moving 2030 levels down from 89% to 76%," the research firm said in a preview note. The German aircraft engine manufacturer was down 0.89% at closing.

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Asia Markets111d ago

DAX Index Little Changed; German Inflation at Two-year High in March

The blue-chip DAX index finished Friday's session flat at 0.01% in the red, as market watchers focused on the upcoming negotiations between the US and Iran.Hopes for a regional cooling-off period and the reopening of the Strait of Hormuz rose after Israel signaled a desire for talks with Lebanon. Tehran has highlighted Israel's ongoing military operations in Lebanon as a major hurdle in its broader ceasefire deal with Washington. The US and Iran are scheduled to hold closely watched negotiations in Pakistan on Saturday.In local economic news, Destatis confirmed in its final data that Germany's annual inflation rate accelerated to 2.7% in March 2026 from 1.9% previously, marking its highest level since January 2024. The core rate, which excludes food and energy prices, was unchanged at 2.5%."The significant increase in the prices of energy products is driving up inflation. In particular, motor fuel and heating oil prices have risen sharply for consumers since the start of the Iran war," Federal Statistical Office President Ruth Brand said.The conflict in the Middle East also impacted Germany's travel industry, according to the ifo Institute's latest business survey. The ifo business climate index for travel agencies and tour operators plunged to -41.7 points from -14.8 points, reflecting sharper pessimism regarding current conditions and future expectations.Additionally, ifo noted that more travel agencies and tour operators are projecting higher costs for travel services in the coming months amid rising fuel costs. "An increase in the inflation rate is likely to strain the travel budgets of many vacationers as the year goes on," industry expert Patrick Höppner said.On the corporate front, Nordex (NDX1.F) secured an order for 13 of its N175/6.X turbines for an undisclosed wind farm project in Spain. The deal includes an initial capacity of 80 megawatts, with an option to expand the total capacity to 120 megawatts. The German wind turbine manufacturer fell 0.39% on Xetra by the end of the trading day.Meanwhile, tech stocks Siemens (SIE.F) and Infineon Technologies (IFX.F) were among the DAX's best performers, gaining by 1.32% and 1.03%, respectively, on the back of a better-than-expected first-quarter revenue for Taiwanese chipmaker TSMC amid increasing artificial intelligence-related demand.

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Asia Markets112d ago

German Blue-chip DAX Index Retreats Amid Middle East Truce Uncertainty

Germany's blue-chip DAX index reversed its earlier gains, closing 1.14% lower on Thursday, amid concerns of a breakdown in the US-Iran ceasefire negotiations.Shipping remains paralyzed in the Strait of Hormuz as persistent Israeli operations in Lebanon strain regional stability. In response, Tehran threatened to abandon its fledgling ceasefire agreement with Washington, as US President Donald Trump countered with warnings of a renewed military escalation should a comprehensive deal fail to materialize.Back at home, Destatis reported that German industrial production in February was down 0.3% on a monthly basis, against the revised zero growth in January and the market's expected 0.9% uptick. Year over year, industrial output was stable, following a revised 0.9% fall earlier."This morning's macro data is the last release to paint a picture of the German economy before the war in the Middle East began. It's a picture of a very reluctant, hesitant consumer, but of a manufacturing sector that is struggling to gain positive momentum. The only piece of evidence currently keeping our ketchup bottle comparison alive was yesterday's industrial orders data, confirming that order books in the [defense] industry continue to fill. At least some support for our long-held view that the fiscal stimulus will increasingly reach the real economy," ING said.Meanwhile, Germany's calendar and seasonally adjusted trade surplus came in at 19.8 billion euros in February, below the revised 20.3 billion euros a month ago and the expected 18.1 billion euros. According to the Federal Statistical Office, exports ticked up 3.6% month over month, against the revised 1.5% drop earlier and the expected 1% gain. Monthly imports rose 4.7%, compared with the revised 5.1% decrease previously and the market forecast of 4% jump.In corporate news, Mercedes-Benz Group (MBG.F) was down 2.02%, after reporting a 6% year-over-year decline in first-quarter deliveries to 499,700 vehicles. The German automaker said the results were consistent with company expectations.RBC Capital Markets reduced its adjusted EPS estimates and price target for sector perform-rated Henkel (HEN.F) to 73 euros from 75 euros amid concerns that execution risks may cap the revenue benefits of recent brand acquisitions."The acquisitions of Not Your Mother's and OLAPLEX should fill in gaps in Henkel's current Hair portfolio and place the company as a more serious contender in the Consumer Hair space. If executed well, integrating these brands could add 50 [basis points] of revenue growth to its hair business over the medium term. However, with management having a lot on their plate and commodity cost inflation concurrently stepping up, we can't overlook execution risks and remain on the sidelines," RBC wrote. The German chemical and consumer goods company gained 0.27% at closing.

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