The DAX Index Closes 0.08% Higher

The DAX Index gained 20 points or 0.08 percent on Wednesday to close at 26286 points. Gains were led by HeidelbergCement (6.04%), Deutsche Bank (4.31%) and MTU Aero Engines AG (2.98%). Biggest losers were SAP (-3.01%), Zalando (-1.41%) and Scout24 (-1.33%).

The DAX 40 pushed higher before trimming gains to close at 26,316 on Wednesday, as strength in banks, industrials and technology stocks offset sharp losses in software companies. Traders monitored geopolitical developments and economic data, while bracing for the release of Nvidia’s earnings report due later in the day. Resumed Iran-Oman talks over the Strait of Hormuz raised hopes that the key waterway could reopen, easing concerns over prolonged disruptions. This prompted another decline in oil prices, helping push bond yields lower and reducing inflation concerns. Elsewhere, the latest US PCE data indicated inflation remained sticky in July. Deutsche Bank and Commerzbank surged 4.3% and 2.6%, respectively. Heidelberg Materials climbed over 5% and Qiagen NV rose 1.7% on renewed rumours surrounding KKR. On the downside, software giant SAP dropped 3%, after UBS downgraded the stock to Neutral from Buy, citing slow progress in agency AI and weaker cloud backlog growth.

The DAX 40 turned slightly positive, trading around 26,300 on Wednesday and heading for a second straight session of gains. Market sentiment was supported by lower oil prices amid hopes for the reopening of the Strait of Hormuz, alongside stabilizing bond yields. However, a sense of caution prevailed ahead of Nvidia’s earnings and key US inflation data that could influence rate expectations. Banks led sectoral gains, with tech, industrials, pharma and healthcare, utilities, and chemical stocks also advancing, offsetting sharp losses in software. Deutsche Bank and Commerzbank surged 4.3% and 2.9%, respectively. Qiagen NV shares rose 2.4% amid renewed rumours that the company is in talks with EQT and KKR over a potential €50-per-share sale. Chipmaker Infineon Technologies added 0.8%. On the flip side, software giant SAP underperformed, dropping 3.6%, after UBS downgraded the stock to Neutral from Buy, citing slow progress in agency AI and weaker cloud backlog growth.