DAX Down Slightly At Noon; Symrise Tanks, Deutsche Bank Rises On Results

(RTTNews) - German stocks turned in a mixed performance on Wednesday with investors reacting to corporate earnings updates and awaiting the Federal Reserve's monetary policy announcement later in the day, as well the European Central Bank's policy decision on Thursday.

The benchmark DAX was down 11.88 points or 0.05% at 25,578.89 at noon.

Deutsche Bank climbed 3% after third-quarter profit topped forecasts. The lender reported Wednesday higher third-quarter profit with increased revenues and assets under management. Further, the firm confirmed fiscal 2026 outlook.

In the third quarter, Deutsche Bank's net profit was €1.85 billion, 2% higher than last year's €1.82 billion. Earnings per share were €0.94, up 6% from the prior year.

Siemens Energy, BMW and Volkswagen gained 1.8%-2%. Mercedes-Benz, Merck, Scout24, Daimler Truck Holding and Commerzbank posted moderate gains.

Symrise tanked 10% after the company flagged slower year-end organic growth and margin pressure, despite delivering stronger sales volumes and a modest quarterly growth beat.

Symrise reported Group sales of 1.31 billion euros in the third quarter, compared with 1.22 billion euros in the prior-year quarter. Organic sales growth was 5.3% in third quarter.

Symrise reaffirmed full-year 2026 outlook. Organic sales growth is projected in a range of 2% to 4%, and adjusted EBITDA margin of 21.5% to 22.5%.

Zalando, Henkel, Deutsche Post, Bayer, BASF, SAP, Heidelberg Materials, Brenntag, Allianz and Deutsche Boerse shed 0.5%-1.1%.

German consumer confidence is set to weaken in November due to rising inflation concerns and subdued income prospects, survey data from the Nuremberg Institute for Market Decisions and the GfK market research institute showed Wednesday. The forward-looking consumer climate index fell slightly to -30.8 in November from -30.6 in October. The reading was expected to improve to -30.1.