DAX Trades Higher

Frankfurt's DAX 40 rose to around 24,800 on Thursday, trimming some losses from the previous session, helped by easing oil prices while investors awaited clearer signs of prospects for a wider deal with Iran. This comes after Israel and Lebanon agreed to implement a ceasefire, though earlier strikes in the week between the US and Iran kept investors on edge. Across the bourse, leading the gains were SAP, advancing more than 4%, alongside Airbus (+1.2%), Siemens Healthineers (+1.2%), and HeidelbergCement (+2.2%). Banking stocks were also in the green, including Deutsche Bank (+2.9%) and Commerzbank (+2.1%). On the flip side, losses were seen in Infineon (-2.9%), Rheinmetall (-1%), and RWE (-1.2%). On the economic data front, fresh PMI data showed that the German construction sector remained firmly in contraction in May.

The DAX Index is up by 53 points or 0.21 percent on Thursday. Top gainers are SAP (3.28%), HeidelbergCement (2.66%) and Deutsche Bank (2.32%). Biggest losses came from Infineon (-2.83%), RWE (-1.39%) and Rheinmetall (-0.47%).

The DAX 40 closed about 1.3% down at 24,796 on Wednesday, reversing yesterday's advance, amid fading hopes of a quick resolution to the Middle East conflict and possible new tariffs from the Trump administration. Hostilities flared up, while conflicting signals over the status of negotiations kept investors on edge. Meanwhile, the US administration vowed to impose a 10%-12.5% tariff on its top trading partners, including the EU and the UK, over alleged links to goods produced with forced labour. Scout24 and SAP were the top losers among stocks, falling 4.9% and 4.1%. Deutsche Bank dropped 3.7% after CFO Raja Akram signalled that provisions for bad loans in the June quarter could exceed analysts’ expectations. Automakers also faced pressure, with Mercedes-Benz Group and BMW down 3.1% and 2.3%, respectively. On the opposite side, top gainers included RWE (3.7%), Merck (2.1%), Bayer (1.7%) and E.ON (1.7%).