German DAX Index Climbs; SAP Slips After EU Accepts Antitrust Commitments
Germany's blue-chip DAX index recovered, closing 0.89% higher on Thursday, after investor caution resurfaced as the US and Iran traded strikes for a second straight day. "All that led to a clear reaction for oil prices, with Brent crude (+5.20%) posting its biggest daily gain since May 4th, peaking at $80.59 [per barrel] but closing a couple of dollars lower. For reference, that's still a long way beneath its recent peak in absolute terms, having approached $120/bbl during the initial phase of the conflict. But it's a clear shift away from the downward trajectory for oil back in Q2, and the various headlines revived fears about a more persistent inflationary shock," Deutsche Bank Research said. In other geopolitical news, Germany secured US approval to purchase RTX's Raytheon-manufactured Tomahawk cruise missiles, The Defense Post reported, citing a parliamentary statement by German Chancellor Friedrich Merz. The deal for the long-range missiles was struck on the sidelines of the NATO meeting in Ankara, Turkey. On the trade front, the Federal Statistical Office reported that Germany's calendar and seasonally adjusted trade surplus was 19.1 billion euros in May, above the.
Germany's blue-chip DAX index recovered, closing 0.89% higher on Thursday, after investor caution resurfaced as the US and Iran traded strikes for a second straight day. "All that led to a clear reaction for oil prices, with Brent crude (+5.20%) posting its biggest daily gain since May 4th, peaking at $80.59 [per barrel] but closing a couple of dollars lower.
For reference, that's still a long way beneath its recent peak in absolute terms, having approached $120/bbl during the initial phase of the conflict.
But it's a clear shift away from the downward trajectory for oil back in Q2, and the various headlines revived fears about a more persistent inflationary shock," Deutsche Bank Research said.
In other geopolitical news, Germany secured US approval to purchase RTX's Raytheon-manufactured Tomahawk cruise missiles, The Defense Post reported, citing a parliamentary statement by German Chancellor Friedrich Merz.
The deal for the long-range missiles was struck on the sidelines of the NATO meeting in Ankara, Turkey.
On the trade front, the Federal Statistical Office reported that Germany's calendar and seasonally adjusted trade surplus was 19.1 billion euros in May, above the.