DAX Starts Q3 on Cautious Note

2026-07-01 08:00 By Luisa Carvalho 1 min. read

The DAX 40 was flat to lower around 24,960 in the first trading session of July, as investors locked in profits following a robust Q2 performance while maintaining a cautious stance.

The AI-driven tech rally lost momentum, and peace talks between the US and Iran hit a new stalemate after Tehran said it would not meet with US officials in Doha.

Meanwhile, all eyes are on Sintra, where speeches by Fed President Kevin Warsh and ECB President Christine Lagarde are expected later in the day.

AI-related stocks, retailers, and banks were among the hardest hit, while defense stocks led gains.

Adidas (-1.7%) was at the bottom of the index, tracking losses from US competitor Nike, which flagged a cautious revenue outlook.

Hochtief, Siemens, Vonovia, and Siemens Healthineers were also among the laggards, each falling more than 1%, while Infineon Technologies saw limited upside.

Rheinmetall stood out, rising 3.2% amid reports that Germany aims to expand domestic weapons production.



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DAX Starts Q3 on Cautious Note
The DAX 40 was flat to lower around 24,960 in the first trading session of July, as investors locked in profits following a robust Q2 performance while maintaining a cautious stance. The AI-driven tech rally lost momentum, and peace talks between the US and Iran hit a new stalemate after Tehran said it would not meet with US officials in Doha. Meanwhile, all eyes are on Sintra, where speeches by Fed President Kevin Warsh and ECB President Christine Lagarde are expected later in the day. AI-related stocks, retailers, and banks were among the hardest hit, while defense stocks led gains. Adidas (-1.7%) was at the bottom of the index, tracking losses from US competitor Nike, which flagged a cautious revenue outlook. Hochtief, Siemens, Vonovia, and Siemens Healthineers were also among the laggards, each falling more than 1%, while Infineon Technologies saw limited upside. Rheinmetall stood out, rising 3.2% amid reports that Germany aims to expand domestic weapons production.
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