DAX Bounce From 2-Month Lows
Frankfurt's DAX 40 rose 0.7% on Friday, after touching two-month lows a day earlier, supported by easing geopolitical concerns after Trump ruled out a US attack on Iran before the November midterm elections, citing progress in talks to end the conflict. The remarks helped pull oil prices lower while bond yields also eased. Among top gainers, Zalando and SAP climbed more than 3% each. Heidelberg Materials (+2.6%) followed, buoyed by an upgrade by RBC. Telecommunications stocks were among the biggest laggards, with Deutsche Telekom falling over 6% after news of SpaceX’s major spectrum acquisition in the US fuelled concerns over increased competition for traditional mobile network operators.
7% on Friday, after touching two-month lows a day earlier, supported by easing geopolitical concerns after Trump ruled out a US attack on Iran before the November midterm elections, citing progress in talks to end the conflict. The remarks helped pull oil prices lower while bond yields also eased. Among top gainers, Zalando and SAP climbed more than 3% each. 6%) followed, buoyed by an upgrade by RBC.
Telecommunications stocks were among the biggest laggards, with Deutsche Telekom falling over 6% after news of SpaceX’s major spectrum acquisition in the US fuelled concerns over increased competition for traditional mobile network operators.