Frankfurt’s DAX 40 rose 0.3% to around 25,520 on Wednesday, its highest level since July 6, as investors awaited the US Federal Reserve’s policy decision, due after the close of European trading, while digesting a fresh batch of earnings and higher oil prices. Semiconductor stocks remained under pressure, with Infineon losing another 1% after Tuesday’s 6% slide, amid concerns about stretched valuations, intensifying Chinese competition, and rising capital expenditure needs.
Among notable movers, Deutsche Bank climbed 4% after posting stronger‑than‑expected second‑quarter results, supported by record profits in its investment banking division. RWE advanced more than 3% following better‑than‑forecast first‑half figures, while BASF gained 2% after unveiling a new share buyback program.
Meanwhile, oil prices jumped more than 3%, buoyed by renewed geopolitical tensions in the Middle East and a larger‑than‑expected drawdown in US crude inventories, stoking fresh concerns about inflationary pressures in Europe.
