FX.co ★ DAX Fails to Hold Onto Early Gains

On Wednesday, Frankfurt's DAX reversed direction, closing approximately 0.2% lower at 23,976, aligning with the trend seen among most regional counterparts. Traders assessed conflicting developments in global trade negotiations. U.S. President Donald Trump announced that an agreement with China is "complete" after two days of high-level discussions in London. He stated that, pending final approval from President Xi Jinping and himself, the United States will gain access to rare earth metals, while Chinese students will be allowed to enroll in American universities. Conversely, the European Union suggested that its trade negotiations with Washington could extend beyond the July 9 deadline. Key underperformers included Deutsche Telekom, Brenntag, Infineon Technologies, Adidas, and Henkel AG & Co, each facing declines of 1.7%, 1.7%, 1.5%, 1.5%, and 1.3%, respectively. Contrastingly, Bayer stood out with a gain of approximately 3.8% following upgrades from HSBC and Kepler Cheuvreux, which raised the stock rating from 'Hold' to 'Buy'. Siemens Energy, Rheinmetall, RWE, and Heidelberg Materials also saw notable performances.