The DAX 40 turned slightly positive on Wednesday, trading around 26,300 and heading for a second consecutive session of gains. Sentiment was buoyed by lower oil prices on hopes that the Strait of Hormuz will reopen, as well as by stabilizing bond yields. Even so, caution persisted ahead of Nvidia’s earnings and key US inflation data, both of which could shape interest rate expectations.
Banks led sector gains, with technology, industrials, pharmaceuticals and healthcare, utilities, and chemicals also advancing, more than offsetting sharp losses in software. Deutsche Bank and Commerzbank climbed 4.3% and 2.9%, respectively. Qiagen NV rose 2.4% amid renewed speculation that the company is in talks with EQT and KKR over a potential sale at €50 per share. Chipmaker Infineon Technologies added 0.8%.
By contrast, software heavyweight SAP underperformed, falling 3.6% after UBS cut its rating to Neutral from Buy, citing slower-than-expected progress in generative AI and weaker cloud backlog growth.
