Frankfurt’s DAX 40 edged slightly lower to close at 24,129 on Friday, extending its losing streak to a fifth consecutive session as investors stayed cautious ahead of the weekend amid persistent geopolitical risks. Sentiment was supported somewhat by news that Iran’s foreign minister was traveling to Pakistan, fueling hopes that peace talks with the United States might resume, though it remains unclear whether negotiations will actually restart. At the same time, shipping activity in the Strait of Hormuz is still almost completely at a standstill.
Markets also focused on the ongoing earnings season. The aerospace and defense sector underperformed, with Rheinmetall down 5.5% and MTU Aero Engines off 3%, while technology stocks outpaced the broader market. SAP advanced 5.1% after reporting a 17% rise in first-quarter profit and beating forecasts, driven by strong growth in its cloud business. Siemens Energy climbed 2.9% after raising its outlook for fiscal 2026. Over the week as a whole, the DAX 40 shed about 2.3%.
