Frankfurt’s DAX 40 fell more than 1% on Thursday to trade below 25,400, pulling back from the one-month highs reached in the previous session. The drop reflected a broader selloff across European equity markets, as rising tensions in the Middle East pushed oil prices higher and mixed earnings from major US technology firms rekindled worries about stretched AI-related valuations. At the same time, investors were closely tracking corporate results from European companies.
Selling pressure was broad-based, with most sectors in negative territory. Technology led the declines, while additional weakness in banking, industrials, and utilities further weighed on the index. Infineon Technologies and Siemens Energy were among the worst performers, each shedding about 2.8%. In contrast, SAP gained 0.5% after quarterly revenue surpassed €10 billion for the first time, driven by a 26% increase in cloud revenue, which prompted the company to raise its full-year revenue guidance.
