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Germany's DAX Index Falls Amid Renewed Middle East Tensions

German shares declined on Wednesday, with the blue-chip DAX index down 0.97%, as reignited tensions between the US and Iran are seen to jeopardize a potential peace deal.The US and Iran exchanged overnight strikes after US President Donald Trump accused Tehran of shooting down a US Army Apache helicopter over the Strait of Hormuz. After the strikes, Reuters reported that Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Iran is reevaluating talks with Washington, noting that diplomatic efforts have stalled due to repeated ceasefire violations. Later, Trump posted on Truth Social that Iran will have to "pay the price" for delaying negotiations.Amid a quiet day for local economic news, market watchers await the European Central Bank's monetary policy decision on Thursday. In a preview note, Berenberg warned that the ECB's expected 25-basis-point rate hike will worsen a eurozone outlook already affected by the Iran war."Nonetheless, the ECB should look through the adverse supply shock rather than weakening the Eurozone economy further through rate hikes that will exacerbate the damage to domestic demand, in our view. Monetary policy cannot prevent the surge in energy prices caused by the Iran supply shock... The key question for the ECB is thus whether the stagflationary supply shock could turn into a more entrenched inflation problem," Berenberg wrote.On the corporate side, adidas (ADS.F) climbed 2.84%, as RBC Capital Markets upgraded its rating for the German sportswear company to outperform from sector perform and raised its price target to 210 euros from 170 euros."Today, adidas is delivering [direct-to-consumer] led revenue growth with healthy forward order visibility and consistent execution. It offers elevated 3yr EPS growth outlook (+25% vs coverage average 11%) at a discounted valuation (13x FY27E P/E). Momentum is broad based across regions, categories and sports verticals which is encouraging, although we would like to see better [free cash flow] generation," RBC said.Meanwhile, London's Financial Times reported that Mercedes-Benz Group (MBG.F) is said to be entering a partnership with German defense startup Tytan Technologies to co-develop a mobile anti-drone system. The German carmaker shed 1.25% at the end of the session.

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Asia Markets24d ago

DAX Index Jumps Amid Upbeat German Economic Data

The blue-chip DAX index ended the trading week in the green, closing 1.15% higher on Friday, following an improvement in German economic growth and business and consumer confidence metrics.Final data from Destatis showed that Germany's gross domestic product ticked up 0.3% in the first quarter, following a 0.2% uptick in the previous three-month period. Federal Statistical Office President Ruth Brand noted exports "rose considerably" at the beginning of the year, bolstering the country's economic performance.Concurrently, the ifo Institute's business climate indicator stood at 84.9 points in May, up from April's revised 84.5 points and the expected 84.2 points. The expectations indicator ticked up to 83.8 points from the revised 83.5 points, while the current conditions index rose to 86.1 points from 85.4 points.ING noted that the stronger-than-expected first-quarter growth data offered some relief for the economy, but warned that business sentiment remained weak. "While German companies seem to have recovered somewhat from the first shock, the absolute level of the Ifo index remains weak. Yesterday, the latest PMI data already showed a high risk of the economy falling into contraction in the second quarter."Meanwhile, German consumer sentiment is expected to moderately improve in June, with the GfK consumer climate indicator up to -29.8 points from the revised -33.1 points in May. The reading, which compares with the consensus estimate of -33.7 points, reflects a "noticeably more positive" outlook for income expectations among German consumers, even as their willingness to buy remains muted.In corporate news, Deutsche Bank Research upgraded Deutsche Post (DHL.F), d/b/a DHL Group, to buy from hold and raised its price target to 56 euros from 48 euros, noting the strength of its DHL Express business."In an uncertain macro/geo-political backdrop, DHL benefits from: (i) self-help (delivery of fit for-growth savings EUR1bn); (ii) a well-invested network, esp. in DHL Express (market-leading positions); and (iii) superior pricing power given near-term pressures in global supply chain and structurally higher complexity. We see an end to the earnings d/g cycle, and mgmt. guide for c. EUR3bn [free cash flow] in 2026 underpinned," the research firm wrote. The German logistics company was one of the session's best performers, climbing 4.11%.German sportswear companies adidas AG (ADS.F) and Puma (PUM.F) were up 3% and 5.50%, respectively, on Xetra, bolstered by the better-than-expected fiscal 2026 results from Hoka-owner Deckers Outdoor.

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Asia Markets47d ago

DAX Index Declines as German Inflation Jumps

Local equities were closed lower on Wednesday, as the market weighed Germany's latest inflation figures against the anticipated US Federal Reserve interest rate decision due later in the day.Amid a busy day for economic and corporate updates, the blue-chip DAX index closed the session 0.27% in the red.Preliminary data from Destatis showed German annual inflation accelerated to 2.9% in April from the previous 2.7%, behind the market forecast of 3%. The core inflation rate, which excludes food and energy prices, declined to 2.3% from 2.5% a month ago."Turning to the ECB, German inflation data adds to the evidence of increasing stagflationary pressures ahead of tomorrow's policy meeting. As much as the rise in actual inflation and inflation expectations will fuel the rate hike debate, growing signs of adverse growth effects will make aggressive rate hikes less straightforward," ING noted.Meanwhile, the ifo Institute said that German companies are accelerating their headcount reductions in response to persistent global instability, noting the layoffs are affecting nearly every industry sector. The ifo Employment Barometer fell to 91.3 points in April 2026, down from 93.4 points a month ago, hitting the lowest level since May 2020.On the corporate side, adidas (ADS.F) soared to the top of the DAX, climbing 8.35%, after outperforming first-quarter expectations and sticking to its full-year targets. The German sportswear giant posted a 14% increase in currency-neutral revenue to 6.59 billion euros, surpassing the consensus of 9% growth, and expects a high-single-digit currency-neutral sales jump for 2026, corresponding to 2 billion euros in absolute terms."Overall, a good print with the only major question likely to be the relative weakness of footwear in the mix and how much of the beat came from World Cup products. In our view, this is a strong performance with adidas winning in a number of important categories. Trading on 15x the stock was not pricing in a FY upgrade at this stage and we see this as likely to be enough to see a positive reaction today," Deutsche Bank Research wrote.On the other hand, Mercedes-Benz Group (MBG.F) reported a 5% decline in first-quarter revenue to 31.60 billion euros, with a sharp sales slump in China eclipsing rising demand for electric vehicles and growth across US and European markets. The German automaker was down 0.56% at closing.

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