The DAX Index Closes 0.34% Lower

The DAX Index decreased 85 points or 0.34 percent on Friday to close at 24831 points. The decline was led by Commerzbank (-3.10%), Deutsche Bank (-2.67%) and Siemens (-2.48%). On the upside, the strongest performers were Rheinmetall (2.39%), E.ON (1.80%) and Deutsche Telekom (1.61%).

The DAX 40 finished about 0.3% down at around 24,800 on Friday, marking the third straight of losses, pressured by a sharp selloff in tech stocks and concerns about escalating tensions in the Middle East. Oil prices climbed as the United States and Iran intensified attacks across the Gulf, keeping inflation concerns alive. Markets largely expect the ECB to maintain rates steady next week before potentially delivering a cut in September. Banks, techs, industrials, retailers and consumer stocks were the hardest hit. Among top losers, Commerzbank and Deutsche Bank slipped 3.1% and 2.7%, respectively. Siemens (-2.3%) followed, with chipmaker Infineon Technologies (-1.6%) and AI infrastructure-linked Siemens Energy (-0.7%) and Hochtief (-2.2%) also falling. On the upside, Rheinmetall (2.1%), Deutsche Telekom (1.9%) and E.ON (1.8%) stood out. For the week, the index declined roughly 1%.

The DAX Index is losing 117 points. Losses were led by Infineon (-4.20%), Siemens (-2.22%) and Siemens Energy (-1.99%). Offsetting the fall, top gainers were Deutsche Telekom (1.84%), E.ON (1.53%) and SAP (1.35%).