DAX Up Over 1.5% As Stocks Rebound After Recent Tumble

(RTTNews) - Despite rising tensions in the Middle East, German stocks moved higher on Wednesday, due largely to some bargain hunting after two successive days of sharp declines.

U.S. President Donald Trump's announcement that the U.S. Navy would escort oil tankers through the Strait of Hormuz to safeguard maritime trade in the Gulf and help stabilize surging global energy prices, is aiding sentiment a bit.

The U.S. Development Finance Corporation (DFC) has confirmed its readiness to extend political risk insurance and guarantees for energy shipments passing through the Gulf.

The benchmark DAX was up 369.98 points or 1.56% at 24,123.00 slightly past noon.

Infineon Technologies and Daimler Truck Holding are up 4.4% and 4.2%, respectively. Rheinmetall, Siemens Energy, Siemens Healthineers and Siemens are up 2.3%-2.5%.

BASF, Deutsche Post, Munich RE, Henkel, Merck, Volkswagen, Allianz, Zalando, SAP, Hannover Rueck, Deutsche Bank, Mercedes-Benz, BMW, Porsche Automobil Holding and Gea group are gaining 1%-2.2%.

Adidas is plunging 7.4% after announcing changes in its supervisory board.

Bayer is declining by nearly 2%. Brenntag is down 1.1%. The German flavors and fragrances maker Symrise is down 1.4% after forecasting a low single-digit decline in first-quarter organic sales.

Data from S&P Global showed the HCOB Germany Composite PMI was revised slightly higher to 53.2 in February 2026 from a preliminary of 53.1, and above 52.1 in January. It is the highest reading in four months, amid faster increases in activity in both the manufacturing and service sectors.

The HCOB Germany Services PMI was revised slightly higher to a four-month high of 53.5 in February 2026 from a preliminary of 53.4, and compared to 52.4 in January, final figures showed.

The HCOB Eurozone Composite PMI climbed to 51.9 in February 2026, up from 51.3 in January, marking the strongest expansion in private sector activity in three months. The HCOB Eurozone Services PMI inched higher to 51.9 in February of 2026 from 51.6 in the previous month, slightly ahead of the preliminary estimate of 51.8 and in line with the initial market expectations.

Industrial producer prices in the Euro Area rose 0.7% month over month in January 2026, reversing a 0.3% decline in December and surpassing market expectations of a 0.2% increase. On an annual basis, producer prices were 2.1% lower than a year earlier, following a 2.0% year-on-year decrease in December.