DAX Moves Lower

Frankfurt's DAX 40 fell 0.6% to below 24,600 on Thursday, in line with other European peers, amid renewed concerns over a potential US-Iran peace deal. A Reuters report indicated that Iran’s Supreme Leader had issued a directive stating that enriched uranium must remain in the country, potentially complicating efforts to reach a deal as it directly challenges Washington’s demand to remove Iran’s nuclear stockpile. .At the same time, flash PMI data signaled a deepening impact on economic activity from the Middle East conflict in May. Commerzbank led losses among individual stocks, dropping more than 4%, as it traded ex-dividend and faced renewed takeover pressure from UniCredit after its €39 billion offer was rejected on Monday. Brenntag (-2.1%) also traded ex-dividend. Meanwhile, Infineon Technologies rose over 1%, benefiting from Nvidia's better-than-expected earnings report.

Frankfurt's DAX 40 traded slightly below the flatline around 24,700 on Thursday, after a three-day recovery, as traders continued to assess developments in the Middle East amid continued uncertainty around a possible US-Iran peace deal. Iran said it is reviewing the latest US proposal to end the conflict after President Trump signaled he would wait a few more days for Tehran’s response. On the data front, a fresh PMI survey showed Germany’s private sector contracted for a second straight month in May, amid weakening demand and elevated inflationary pressures. Among equities, Commerzbank led equity losses, falling 3.6%, amid renewed takeover pressure from UniCredit following the rejection of its €39 billion offer on Monday. Brenntag (-3.1%) and Airbus (-2.3%) also posted significant losses. Meanwhile, Infineon shares continued their good run, up 1.5%, benefiting from Nvidia's earnings report.

The DAX Index is falling 177 points. Losses were driven by Airbus (-2.66%), Siemens Energy (-1.50%) and RWE (-1.10%). Biggest rises came from Qiagen NV (1.35%), Merck (1.26%) and Deutsche Boerse (1.01%).