DAX Moderately Higher As Investors React To Earnings

RTTNews | 121 days ago

(RTTNews) - Despite concerns about inflation and the ongoing Middle East conflict, the German stock market gained notable ground in positive territory on Wednesday as investors focused on earnings updates and regional economic data.

Investors also looked ahead to the upcoming meeting in Beijing between U.S. President Donald Trump and Chinese President Xi Jinping.

The benchmark DAX, which climbed to 24,224.61 earlier in the session, was up 139.04 points or 0.58% at 24,113.71 a few minutes before noon.

Merck gained 8.5% and Infineon climbed up 6.1%. E.ON climbed 3.4%. The utility giant's stock moved higher, buoyed by the announcement of a planned acquisition of U.K. energy supplier OVO.

Shares of insurer Allianz climbed nearly 2%, lifted by a record profit in the first quarter thanks to sale of stakes in joint ventures in India.

Deutsche Telekom, Europe's biggest phone carrier, added 1.5% after lifting its full-year guidance.

Rheinmetall shed about 3.1%. Porsche Automobil Holding, Fresenius, Heidelberg Materials, Qiagen, Fresenius Medical Care, MTU Aero Engines, Beiersdorf and SAP lost 1%-2%.

RWE's first-quarter earnings totaled EUR20 million, or EUR0.03 per share, compared with EUR791 million, or EUR1.07 per share, last year. The stock drifted down marginally.

Brenntag fell 1.6% after reporting first-quarter net profit of Euro 98 million, compared with Euro 135 million in the year-ago quarter. Earnings per share dropped to Euro 0.68 compared with Euro 0.93 a year earlier.

In economic news, data from Destatis showed German wholesale prices increased 6.3% on a yearly basis in April, following March's 4.1% increase, as the U.S.-Iran warn lifted energy and raw material prices. The latest inflation was the highest since February 2023.

Eurostat confirmed that the Eurozone economy grew by 0.1% in the first quarter of 2026 compared to the previous quarter.

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European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.

RTTNews | 15 minutes ago

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A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.

RTTNews | 3h 36min ago

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RTTNews | 3h 45min ago

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

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RTTNews | 4h 25min ago

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A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August.

RTTNews | 5h 27min ago

IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery

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RTTNews | 5h 35min ago

Canadian Dollar Falls As Oil Prices Edge Lower

The Canadian dollar weakened against other major currencies in the European session on Friday, as the crude oil prices traded lower amid escalating U.S.-Iran tensions and concerns over prolonged disruption to global energy supplies.

RTTNews | 5h 51min ago

Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops

Supermarket chain Kroger Co. reported Friday higher profit and sales in its second quarter, while Identical Sales growth was slower than the prior year. Further, the firm maintained adjusted earnings outlook for fiscal 2026, but trimmed growth view for identical sales without fuel. In the pre-market activity on the NYSE, the shares were losing around 2.62 percent.

RTTNews | 6h 22min ago

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