DAX Slips Over 1%
Frankfurt's DAX 40 fell over 1% to trade below 25,400 on Thursday, retreating from one-month highs hit in the prior session. The decline mirrored broader weakness across European markets as escalating tensions in the Middle East drove oil prices higher, while mixed earnings from major US technology companies reignited concerns over elevated AI valuations. Meanwhile, investors closely monitored earnings from European companies. Infineon Technologies and AI-related companies such as Siemens Energy were among the top losers, falling nearly 3% each. Contrastingly, SAP shares rose 0.5%, after quarterly revenue topped €10 billion for the first time, driven by 26% growth in cloud revenue and raised its full year rebenue outlook.
Frankfurt's DAX 40 fell over 1% to trade below 25,400 on Thursday, retreating from one-month highs hit in the prior session. The decline mirrored broader weakness across European markets as escalating tensions in the Middle East drove oil prices higher, while mixed earnings from major US technology companies reignited concerns over elevated AI valuations. Meanwhile, investors closely monitored earnings from European companies. Infineon Technologies and AI-related companies such as Siemens Energy were among the top losers, falling nearly 3% each.
Contrastingly, SAP shares rose 0.5%, after quarterly revenue topped €10 billion for the first time, driven by 26% growth in cloud revenue and raised its full year rebenue outlook.