The DAX Index Opens 0.35% Lower

The DAX Index rose 39 points or 0.15 percent on Wednesday to close at 25299 points. Leading the gains are Rheinmetall (3.61%), Henkel (2.48%) and MTU Aero Engines AG (2.41%). Top losers were Siemens Energy (-5.44%), Porsche Automobil (-2.48%) and Volkswagen (-2.16%).

Frankfurt’s DAX 40 closed about 0.2% up at 25,322 on Wednesday, reversing prior day's losses, mainly supported by strength in pharma & healthcare, chemical companies and industrials. However, initial optimism over ASML’s upbeat results failed to sustain momentum in tech stocks. Meanwhile, traders assessed hotter-than-expected US inflation data for September, which increased the likelihood of a Fed rate hike later this month, while also monitoring the earnings season and geopolitical developments. MTU Aero Engines (3.5%), Rheinmetall (3.3%), Merck (3.1%), Bayer (2.9%), Arbus (2.8%) and Qiagen NV (2.7%) were among the top performers. On the flip side, Porsche Automobil, Zalando, Volkswagen, Siemens Energy and Infineon Technologies lagged, falling up to 1.8%.

Frankfurt’s DAX 40 rose 0.4% to around 25,365 on Wednesday, recovering some ground after the previous session’s losses. Gains across the European technology sector provided support, following upbeat results from Dutch semiconductor equipment maker ASML. However, the cautious mood persisted amid rising oil prices, which fueled concerns over renewed inflationary pressures, while anticipation of September’s US inflation data kept markets on edge. Infineon Technologies was among the top gainers, rising 3.2%. Vonovia (2.9%), MTU Aero Engines (2.4%), Rheinmetall (1.7%) and BASF (1.6%) also advanced firmly. On the flip side, Zalando dropped 2.1% to the bottom of the index.