DAX Edges Higher

Frankfurt's DAX 40 gave up some initial gains on Wednesday, trading slightly below the 24,000 mark, extending losses for the eighth consecutive day. Persistently high oil prices amid the ongoing stalled negotiations between Iran and the US weighed on sentiment. Meanwhile, traders parsed a batch of corporate reports, while bracing for key monetary policy decisions from the Fed later today and the ECB tomorrow. Deutsche Bank plunged over 2% as its results failed to impress investors. Hannover Ruck and Munchener Ruck were also among the top losers, falling 3% and 2.7%, respectively. On the upside, Adidas surged roughly 7% after reporting a stronger-than-expected first-quarter profit. Scout24 advanced 5% after reporting first-quarter revenue that narrowly missed expectations, alongside accelerating organic growth and an expanded share buyback program. Mercedes-Benz Group added 0.3%, after issuing an optimistic full-year outlook and reporting a smaller-than-expected profit decline.

Frankfurt's DAX 40 rose 0.2% to near 24,060 on Wednesday, snapping a seven-session losing streak and outperforming its regional peers. Investors focused on a flood of corporate earnings before key monetary policy decisions from the Fed later today and the ECB tomorrow. Still, sentiment stayed cautious as Middle East tensions persisted, with no diplomatic progress and reports of Trump ordering preparations for a prolonged Iran blockade, raising the risks of a continued energy crisis. Adidas provided the main support, jumping 7% after reporting stronger-than-expected first-quarter profit. Mercedes-Benz Group rose 1.6%, after issuing an optimistic full-year outlook and reporting a smaller-than-expected profit decline in Q1. Deutsche Bank, on the other hand, plunged over 3% as its results failed to impress investors.

The DAX Index is up by 35 points or 0.14 percent on Wednesday. Top gainers are Adidas (6.82%), Symrise (4.17%) and Infineon (3.81%). Biggest losses came from Deutsche Bank (-3.04%), Munich RE (-1.76%) and Hannover Rueck (-1.51%).