DAX Drifts Lower; Siemens Healthineers Down Sharply On Lower Earnings

(RTTNews) - German stocks are down in negative territory on Wednesday, extending losses from the previous session, amid concerns over high valuations and lingering worries about global economic growth due to the impact of trade tensions.

Investors are also reacting to a slew of corporate earnings announcements.

The benchmark DAX was down 151.81 points or 0.62% at 23,793.83 a little while ago.

Siemens Healthineers is tanking 7.4% after reporting lower profits in the fourth quarter. Looking ahead for fiscal year 2026, the company expects adjusted basic earnings per share to be between 2.20 euros and 2.40 euros, with comparable revenue growth of 5-6% from the prior year.

Siemens Energy is declining by about 4.1%. Qiagen is down 3.7%, while GEA Group, Zalando, Merck, Infineon Technologies, MTU Aero Engines, Commerzbank, Siemens and Rheinmetall are down 1 to 2%.

Daimler Truck Holding, Mercedes-Benz, BASF and Heidelberg Materials are up 1.1 to 1.5%. Symrise, E.ON and Munich RE closed with moderate gains.

BMW is up more than 1% as it posted a higher-than-forecast profit margin in its core car business in the third quarter.

Fresenius is up marginally. The company reported that its third quarter net income, excluding Fresenius Medical Care or FMC, increased 13% to 351 million euros from 312 million euros in the prior year. Quarterly core earnings per share rose by 14% in constant currency to 0.62 euros.

Vonovia is down 0.4%. The residential real estate company, returned to profit for the 9-month period ended September 30, helped by a strong turnaround in property valuation gains, even as rental income remained broadly steady.

Earnings before tax surged to € 1.226 billion from a loss of € 502 million in the same period last year, reflecting a sharp swing in net income from fair value adjustments of investment properties.

In economic news, Germany's factory orders rebounded at a stronger-than-expected pace in September driven by higher demand for auto and electrical equipments.

Factory orders expanded 1.1% in September from August, Destatis reported. Orders were forecast to advance 0.9%, reversing a revised 0.4% drop in August. Excluding large-scale orders, new orders were 1.9% higher than in the previous month.

Data from S&P Global showed the HCOB Germany Composite PMI was revised slightly higher to 53.9 in October 2025 from a preliminary of 53.8, compared to 52 in September. The reading pointed to the strongest growth in private sector activity since May 2023.

Services sector activity improved sharply. The Services PMI climbed to 54.6 in October from 51.5 a month earlier, while the manufacturing PMI reading came in at 49.6, compared to 49.5 in September.