The DAX Index Opens 0.27% Lower

The DAX 40 moved into negative territory on Wednesday, falling 0.7% to around 24,200, as lingering concerns over stretched AI-related valuations and ongoing Middle East tensions refrained investors from taking higher positions ahead of US inflation data. On the geopolitical front, US forces launched strikes against Iran following the downing of a helicopter in the Strait of Hormuz, prompting retaliatory attacks from Tehran on US bases across the Gulf region and in Jordan. Despite the latest developments, hopes for a peace deal remained alive. Meanwhile, attention also turns to the ECB’s upcoming decision, adding a note of caution. SAP remained at the bottom of the index, down over 3%. Other top losers included Siemens, Siemens Energy, Beirsdorf and Merck, shedding more than 1% each. On the upside, Qiagen NV and Fresenius CO & SE led gains, rising 1.4% and 1.3%, respectively. Adidas shares added 1% after Canadian bank RBC upgraded them from "Sector Perform" to "Outperform."

The DAX 40 traded near the flatline around 24,400 on Wednesday, as caution prevailed amid renewed US attacks on Iran following the downing of a helicopter in the Strait of Hormuz. Tehran then attacked US bases in the Gulf region and in Jordan. However, the latest developments had a limited effect on oil prices, as hopes for a peace deal remained alive. Meanwhile, traders looked ahead to tomorrow's ECB policy decision and updated macroeconomic projections. Infineon Technologies and Qiagen NV were among the top performers, both adding about 2%. Adidas, Fresenius SE & Co and Gea Group followed closely, advancing around 1% each. SAP was the main laggard, declining more than 2%.

The DAX Index is dropping 65 points. Leading the losses are SAP (-3.05%), Scout24 (-0.73%) and Merck (-0.72%). Top gainers were Qiagen NV (1.97%), Infineon (1.82%) and Fresenius (1.40%).