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Frankfurt's DAX 40 turned slightly positive to trade above 25,600 on Tuesday, as oil prices resumed their slide on reports of a potential reopening of the Strait of Hormuz by Iran in exchange of easing US military pressure. Meanwhile, ongoing tensions in the Gulf kept investors cautious, with the UN General Assembly in
European cash markets finished mixed: Euro Stoxx 50 +0.14%, DAX -0.15%, CAC 40 +0.47% and FTSE 100 -0.18%. UK volume leaders included Lloyds down and BP up.
The DAX 40 edged up 0.3% to around 26,070 on Friday, extending modest gains for a second session. Automotive led, with Volkswagen shares rising 6.3% after the board approved a major turnaround plan.
European indexes were largely steady in muted early trade, with Stoxx 600 nudging 0.05% higher. Germany’s DAX rose 0.1%; Deutsche Telekom led the move, up 1.55% on an Elliott stake report.
Europe's Stoxx 600 is up 0.05% while Germany's DAX is down 0.07%, France's CAC 40 down 0.23%, Britain's FTSE 100 up 0.38% and Spain's IBEX up 0.77%.
Oil prices decline as Europe heatwave intensifies and tech sector volatility continues