DAX Turns Slightly Positive

Frankfurt's DAX 40 cut some early losses to trade 0.5% up to near 25,300 on Thursday, as traders assessed a flurry of corporate earnings. Meanwhile, upbeat results from chip giant Nvidia offered some relief amid lingering concerns over stretched valuations. In the background remains the issue of tariffs imposed by President Trump and the talks between the United States and Iran in Switzerland. SAP led gains, rising 3%, while Siemens and Infineon Technologies added 2.1% and 0.8%, respectively. Retailers were buoyed by Puma’s earnings, with Adidas up 2.8% and Zalando 2.3%, after the sportswear giant’s results beat expectations despite posting a loss. On the downside, Munich Re dropped 1.7%fter its 2025 profits beat internal targets but missed analyst expectations. Deutsche Telekom fell 1.6% as it posted better-than-expected Q4 core profits, but offered mixed guidance for 2026. Allianz edged lower after posting record 2025 operating profit, with 2026 guidance below forecasts.

Frankfurt's DAX 40 edged down to around 25,100 on Thursday, following slight gains in the prior session, as investors digested a flurry of corporate earnings, including results from chip giant Nvidia. The company delivered better-than-expected Q4 results, offering some relief amid lingering concerns over stretched valuations. Meanwhile, global attention turned to another round of US-Iran nuclear talks scheduled to take place today in Geneva, aimed at averting a potential conflict. Insurers were among the top losers after Allianz reported record 2025 operating profit but issued 2026 guidance below analysts’ expectations. Deutsche Telekom rose just 0.2% as it posted better-than-expected Q4 core profits, yet offered mixed guidance for 2026. Outside the main index, Puma shares jumped 8% after the sportswear giant posted a narrower-than-expected loss in 2025. The company said sales are expected to keep falling this year, albeit at a slower pace in the low- to mid-single-digit range.

The DAX Index is picking up 0.4 points or 0.00 percent on Thursday. Gains are led by Fresenius Medical Care (1.28%), Deutsche Telekom (0.67%) and RWE (0.66%). Biggest losers are Munich RE (-2.42%), Bayer (-2.03%) and MTU Aero Engines AG (-1.61%).