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FX.co ★ DAX Little Changed On Middle East Conflict Fears

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typeContent_19130:::2024-10-02T09:51:00

DAX Little Changed On Middle East Conflict Fears

German stocks remained relatively stable on Wednesday, despite ongoing tensions in the Middle East following Iran's ballistic missile strikes on two Israeli military bases and Mossad's headquarters.

The conflict between Israel and Iran has intensified, with both nations issuing threats of retaliation, exacerbating fears of an escalation into a regional war.

The benchmark DAX index experienced a slight increase, registering at 19,229, after a previous session decline of 0.6 percent.

In corporate developments, GEA Group saw its shares rise by 3.3 percent. The company, a technology supplier for food processing and various other industries, announced during its capital markets day that it met its mid-term financial targets outlined in the Mission 26 growth strategy two years ahead of schedule.

Conversely, wind turbine manufacturer Nordex Group's shares dropped by 1.2 percent, despite the company securing a 66 MW order in Scotland.

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