Frankfurt’s DAX 40 slipped to around 25,100 on Thursday, giving back part of the prior session’s modest gains, as investors weighed a busy slate of corporate earnings, including results from chipmaker Nvidia. The company reported stronger-than-expected Q4 figures, offering some support to sentiment amid ongoing worries about stretched valuations.
At the same time, global markets focused on a new round of US–Iran nuclear talks set for today in Geneva, aimed at defusing tensions and reducing the risk of a broader conflict.
Insurers were among the weakest performers after Allianz announced a record operating profit for 2025 but issued 2026 guidance that fell short of analysts’ expectations. Deutsche Telekom edged up 0.2% after posting better-than-expected Q4 core earnings, though its outlook for 2026 was mixed.
Outside the blue-chip index, Puma shares surged 8% after the sportswear group reported a narrower-than-expected loss for 2025. The company said it expects sales to continue declining this year, but at a slower pace, in the low- to mid-single-digit range.
