The DAX moved back toward last‑day levels by mid‑afternoon after a weaker start to the session. At roughly 12:30 p.m., the benchmark index was around 24,975 points, 0.1 percent below yesterday’s closing level.
According to Andreas Lipkow, chief market analyst at CMC Markets, “investors in Frankfurt are expressing uncertainty over the trade disputes with the United States and the below‑expected quarterly results of two DAX companies that have made sales”. Lipkow added that the situation over tariff issues has shifted again in recent hours, fueling escalating momentum between the European Union and the United States. He emphasized the core question of how an agreement between the two economic blocs can be reached in the absence of clarity.
Other worries continue to weigh on sentiment. The Middle East conflict and growing pressure on the software sector from the advancement of artificial intelligence are also affecting markets. Lipkow described the stock market as being pulled from too many directions at the moment.
Shares of MTU Aero and Fresenius Medical Care are trading lower after their annual forecasts failed to convince investors. For MTU, rising costs are eroding overall margin and ultimately impacting free cash flow. In contrast, utilities and auto manufacturers remain winners, and reinsurance names continue to be in demand. At present, 22 of the 40 DAX companies are on the upside, and investors, although restrained, remain somewhat optimistic.
The euro was a little softer in the afternoon. One euro bought $1.1783, meaning one U.S. dollar was worth €0.8487. Gold fell as well; afternoon prices for a troy ounce were $5,177, down 1 percent, which translates to about €141.25 per gram. Oil slipped slightly, with Brent crude at $71.35 per barrel around 12 p.m. German time, 14 cents (0.2 percent) lower than the previous day’s close.