DAX 40 Dips as US-Iran Standoff Lifts Oil

Frankfurt’s DAX 40 declined about 0.5% to 24,220 on Monday, pressured by rising oil prices as US-Iran negotiations remained deadlocked. President Donald Trump dismissed Iran’s latest proposal as “totally unacceptable,” accusing Tehran of “playing games.” Reports suggested Iran had offered to export part of its uranium stockpile, with the option of repatriation if talks collapse, but Iran denied the claims, labeling Trump’s demands as “excessive.” Brent crude climbed above $105 per barrel, intensifying inflation concerns and reinforcing expectations of tighter ECB monetary policy. In individual stock moves, Gea Group dropped 4% despite beating first-quarter 2026 order intake and operating profit forecasts, as EPS fell short and free cash flow plunged. Meanwhile, Hannover Re slipped 2% even as its net profit surged 48% year-over-year to €710.6 million, missing analyst estimates of €721 million.

The DAX Index is losing 105 points. Losses were led by Gea Group (-4.43%), Rheinmetall (-2.95%) and Hannover Rueck (-2.25%). Offsetting the fall, top gainers were HeidelbergCement (1.41%), BASF (1.30%) and SAP (1.07%).

Frankfurt's DAX 40 closed about 1.3% lower at 24,339 on Friday, extending losses from the prior day, mirroring a broadly negative sentiment across Europe. Traders remained cautious amid reports of military clashes in the Strait of Hormuz, which raised doubts about the deal that could potentially restore energy flows from the Persian Gulf. At the same time, US President Trump on Thursday vowed to impose “much higher” tariffs on the EU by July 4 if the bloc fails to reduce its tariffs on US goods to zero. Rheinmetall plunged more than 15% to top losers after a profit miss on Thursday and JPMorgan’s downgrade to neutral from overweight, which also saw its price target slashed to €1,500 from €2,130. Daimler Truck followed closely, falling nearly 8%. Commerzbank dropped 4.2% as the bank upgraded its financial targets following solid results and set out its strategy for the coming years amid UniCredit’s takeover bid, including plans to cut 3,000 jobs. For the week, the index added 0.2%.