German Stocks Mixed As Iran Tensions, Oil Surge Weigh
(RTTNews) - German stocks turned in a mixed performance in cautious trade Monday morning as concerns about U.S.-Iran tensions, higher oil prices and bond yields weighed on sentiment.
Oil prices rose sharply on renewed concerns about energy supply as U.S. President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz and signaled possible new military strikes after midterm elections.
After publicly rejecting Iran's latest proposal to reopen the Strait of Hormuz and other demands regarding naval blockades and easing economic measures, Trump reportedly told aides he expects U.S. bombing to resume after midterm elections.
Iran's Foreign Minister Abbas Araghchi expressed hopes for a diplomatic solution, but warned the country is prepared for war with the United States to resume.
Brent crude futures front-month contract surged to $108.28 before easing to $107.91, still up 3.7% from previous close.
The benchmark DAX, which advanced to 25,509.85, dropped to a low of 25,369.42 before edging above the flat line. The index was up 28.28 points or 0.11% at 25,424.50 at noon.
Siemens Healthineers climbed 3.5%. Fresenius and Fresenius Medical Care moved up 1.85% and 1.5%, respectively. Merck advanced 1.3% and Henkel gained 1.2%.
Bayer, Heidelberg Materials, Scout24, Beiersdorf, RWE, Symrise, E.ON, Deutsche Boerse, Qiagen and Daimler Truck Holding gained 0.5%-1%.
Shares of sugar producer SuedZucker soared nearly 8% after the company raised its revenue and operating core earnings forecasts for the 2026/27 financial year, citing rising demand for biofuels.
BASF drifted lower by 1.1%. Zalando, SAP, Hochtief, Siemens Energy, Infineon Technologies, Deutsche Bank, Volkswagen, BME, Brenntag and Siemens shed 0.5%-1%.
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