FX.co ★ DAX Trades Higher

Frankfurt’s DAX 40 climbed to around 24,800 on Thursday, recovering part of the previous session’s losses, supported by softer oil prices as investors awaited clearer indications of the prospects for a broader agreement with Iran. The move followed the announcement of a ceasefire between Israel and Lebanon, although strikes earlier in the week involving the US and Iran continued to weigh on sentiment. Among individual stocks, SAP led the advance with a gain of more than 4%, while Airbus (+1.2%), Siemens Healthineers (+1.2%), and HeidelbergCement (+2.2%) also posted solid increases. Bank shares traded higher as well, with Deutsche Bank up 2.9% and Commerzbank 2.1%. In contrast, Infineon (-2.9%), Rheinmetall (-1%), and RWE (-1.2%) registered declines. On the data front, the latest PMI figures confirmed that Germany’s construction sector remained firmly in contraction in May.