DAX Closes in the Red
Frankfurt's DAX 40 closed about 1.1% down at 25,379 on Thursday, pulling back from one-month highs, tracking other European peers. Rising oil prices, geopolitical risks, concerns over AI infrastructure spending, and uncertainty in France weighed on investor sentiment. Meanwhile, the earnings season continued across both sides of the Atlantic. Technology, industrial, and banking sectors led the declines, while software and telecom stocks outperformed. German companies benefiting from AI, such as Infineon, Hochtief, Siemens Energy Siemens plunged between 3.9%-8.1%. Other top losers included MTU Aero Engines (-3.9%), Commerzbank (-3.8%), Deutsche Bank (-2.8%), RWE (-2.3%) and Airbus (-2.2%). On the upside, shares of Qiagen NV (4.9%) and Scout24 (3.6%) stood out. Software giant SAP gained 3.2%, after quarterly revenue exceeded €10 billion for the first time, supported by 26% growth in cloud revenue, prompting the company to raise its full-year revenue outlook.
Frankfurt's DAX 40 closed about 1.1% down at 25,379 on Thursday, pulling back from one-month highs, tracking other European peers. Rising oil prices, geopolitical risks, concerns over AI infrastructure spending, and uncertainty in France weighed on investor sentiment. Meanwhile, the earnings season continued across both sides of the Atlantic. Technology, industrial, and banking sectors led the declines, while software and telecom stocks outperformed.
German companies benefiting from AI, such as Infineon, Hochtief, Siemens Energy Siemens plunged between 3.9%-8.1%. Other top losers included MTU Aero Engines (-3.9%), Commerzbank (-3.8%), Deutsche Bank (-2.8%), RWE (-2.3%) and Airbus (-2.2%). On the upside, shares of Qiagen NV (4.9%) and Scout24 (3.6%) stood out. Software giant SAP gained 3.2%, after quarterly revenue exceeded €10 billion for the first time, supported by 26% growth in cloud revenue, prompting the company to raise its full-year revenue outlook.