DAX Modestly Higher As Investors React To Earnings

(RTTNews) - Despite disappointing factory orders data, and U.S. President Donald Trump's threat that he would impose tariffs on pharma and chips, German stocks are gaining some ground in positive territory on Wednesday. Some upbeat earnings announcements and expectations of a Fed interest rate cut next month appear to be aiding sentiment.

The benchmark DAX, which climbed to 23,998.59 earlier in the session, was up 48.81 points or 0.2% at 23,906.00 a few minutes ago.

Vonovia is up 2.7% despite paring some early gains. The stock moved up sharply this morning, lifted by an impressive 11% growth in first-half earnings. The company has also raised its EBT guidance for the full-year.

Porsche is up nearly 3%. Deutsche Bank is gaining about 2.1% and Heidelberg Materials is up 1.7%. BMW, Daimler Truck Holding, Mercedes-Benz, BASF, Volkswagen and Porsche Automobil Holding are up 1 to 1.4%.

Healthcare group Fresenius is up 1.3% after posting strong Q2 results and raising its full-year revenue guidance.

Beiersdorf is tanking more than 10%. The stock is under pressure as the company cut its full-year guidance and reported weaker-than-expected sales for its core Nivea brand in the second quarter, citing a 0.5% decline in organic sales growth.

The company lowered its 2025 outlook for the Consumer division's organic sales growth to 3-4%, down from a previous range of 4-6%.

Zalando is down nearly 6% despite delivering "strong" growth in sales and profits during the second quarter and raising its 2025 guidance.

Bayer is down by about 4.7%. The pharmaceutical and agricultural major reported a wider loss for the second quarter amid challenging market conditions.

Infineon Technologies and Fresenius Medical Care are down 2.4% and 2.3%, respectively. Qiagen, Adidas, Merck and Siemens Energy are down 0.8 to 1.4%.

Germany's factory orders declined unexpectedly in June on a notable fall in demand from non-EU countries, official data revealed on Wednesday.

New orders fell 1% month-on-month in June, Destatis reported. The fall was sharper than the 0.8% decrease posted in May and confounded expectations for an increase of 1%.

When large-scale orders are excluded, new orders were 0.5% higher than in the previous month.

Foreign orders declined 3% in June. Here, orders from the euro area were up 5.2%, while orders from outside the euro area plunged 7.8%. Domestic orders grew 2.2%.