DAX Fails to Hold Onto Gains
Frankfurt's DAX 40 turned slightly negative on Thurday afternoon, falling 0.4% to around 26,345, dragged lower by defence and technology stocks. The global chip rout spread to Europe as investors assessed the potential implications of the Democrats’ sweeping victory for the expansion of AI data centres. Meanwhile, defense giant Rheinmetall plunged more than 16% despite strong quarterly results, after cutting its earnings outlook for a second time due to delays in the Boxer vehicle programme and artillery ammunition testing.
Frankfurt's DAX 40 turned slightly negative on Thurday afternoon, falling 0.4% to around 26,345, dragged lower by defence and technology stocks. The global chip rout spread to Europe as investors assessed the potential implications of the Democrats’ sweeping victory for the expansion of AI data centres. Meanwhile, defense giant Rheinmetall plunged more than 16% despite strong quarterly results, after cutting its earnings outlook for a second time due to delays in the Boxer vehicle programme and artillery ammunition testing.