Frankfurt’s DAX 40 rose 0.5% to 25,492 on Tuesday, its highest level since July 6, as investors responded positively to corporate earnings updates and lower oil prices, amid hopes that renewed US-Iran talks could help ease Middle East tensions.
SAP climbed more than 5%, extending its recent rally after launching the second phase of its €10 billion share buyback programme and posting stronger-than-expected second-quarter results. Deutsche Telekom added over 2%, while Airbus advanced more than 1.5%. Mercedes-Benz gained more than 2% as well, after reaffirming its passenger car margin target despite cutting its revenue outlook following a weaker quarter.
By contrast, Infineon fell around 6%, with AI-linked stocks coming under pressure on worries about stretched valuations, intensifying Chinese competition, and rising investment requirements. Energy shares also retreated in step with softer crude prices, with Siemens Energy sliding roughly 7%.
