DAX Falls 0.2%
DAX 40 closes 0.2% lower after hitting a record high
The DAX 40 gave up early gains to close about 0.2% lower on Wednesday after hitting a fresh intraday record of 26,574, ending a four-day rally as investors took profits amid uncertainty over the Iran conflict and Strait of Hormuz reopening.
Focus also remained on economic data and earnings.
Software, consumer cyclicals, telecoms, utilities and autos came under pressure, while industrials and tech stocks advanced.
E.ON fell nearly 3% after modest first-half earnings growth, with its CEO warning of potential attacks on the country’s energy infrastructure.
Brenntag dropped 2.2% after JPMorgan maintained its Sell rating even after solid Q2 performance and an improved full-year earnings outlook.
Rheinmetall led gainers with a 2.3% rise, followed by Siemens Energy (+1.9%) and Infineon Technologies (+1.1%).
TKMS surged 8.5% after strong results and an upgraded full-year revenue outlook.