DAX Pares Some Gains After Rising To 2-week High
(RTTNews) - German stocks moved higher on Wednesday as some encouraging corporate earnings announcements helped offset concerns about escalating Middle East tensions and rising oil prices.
Brent crude futures were up $4.00 or 4.41% at $95.02 a little while ago. Oil prices moved higher after the U.S. military carried out its 11th consecutive night of strikes against Iran and President Trump vowed to bomb Pickaxe Mountain.
Iranian media reported explosions in Bushehr, home to the Iranian nuclear power plant.
The benchmark DAX climbed to a two-week high of 25,239.37 before easing to 25,141.10, still up as much as 148.73 points or 0.6% over previous close.
Airbus moved up nearly 7%. The aerospace group announced a €5 billion share buyback program to be carried out over the next three years and reaffirmed its earlier announced fiscal 2026 outlook of around 870 commercial aircraft deliveries and adjusted EBIT of around 7.5 billion euros.
Gea Group climbed nearly 5% after reporting better-than-expected preliminary second-quarter fiscal 2026 results and raising annual guidance.
Commerzbank, RWE, Brenntag, BASF, MTU Aero Engines, Allianz, E.ON, Hannover RE and Rheinmetall gained 1%-2%. Munich RE advanced nearly 1%, while Zalando, Qiagen and Infineon Technologies posted modest gains.
Bayer drifted down 1.6%. SAP, Fresenius, Scout24, Fresenius Medical Care, Hochtief and Deutsche Post shed 0.6%-1.25%.
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