The DAX 40 traded largely unchanged on Thursday, lingering near one-month lows around 25,850 amid a cautious tone across global markets. Ongoing hostilities in the Middle East continued to dampen risk appetite, although President Trump’s comment that the conflict would not last “too long” offered some limited reassurance. Oil prices and bond yields also steadied after surging earlier in the week, providing additional support to overall sentiment. Sector-wise, telecommunications, software, and chemical stocks outperformed, while industrials, travel-related names, and automakers faced renewed selling pressure.