Germany’s DAX 40 index rose 0.5% to around 24,060 points on Wednesday, recouping part of the previous session’s losses. Strong corporate earnings and optimism ahead of US President Donald Trump’s state visit to China temporarily outweighed market concerns about the war in Iran.
Merck led the gains with an 8% jump after the pharmaceutical group reported operating profit above expectations and raised its full-year guidance. Allianz advanced more than 2% following a stronger-than-expected start to the year and a reaffirmation of its annual targets. Deutsche Telekom added over 1% after a robust quarter prompted a modest upgrade to its full-year profit outlook.
Among the utilities, E.ON climbed 4% and RWE slipped 0.6% after both companies released quarterly results and confirmed their guidance. At the other end of the index, Siemens fell 1.6%. Solid demand for AI data centers and strong software sales in its second fiscal quarter were offset by the drag from a stronger euro.
