FX.co ★ DAX Slides After Early Strength

Frankfurt's DAX index reversed its initial gains to trade slightly lower around 21,245 on Thursday, reflecting similar trends seen across European indices. Investors were closely observing the latest corporate earnings reports while anticipating the European Central Bank's (ECB) forthcoming rate decision. Persistent worries regarding U.S. trade policies contributed to a generally cautious sentiment in global markets. Given that a 25 basis point rate cut had already been anticipated, investors are poised to scrutinize the ECB President's press conference for updated perspectives on Eurozone economic growth and inflation amidst existing trade uncertainties. In the corporate sector, several stocks experienced declines. Notably, Sartorius AG fell by 4.2% following an upgrade from Deutsche Bank, which concurrently lowered its price target for the company. Other notable declines were seen in shares of Fresenius Medical Care, Heidelberg Materials, Qiagen NV, and Merck. Conversely, Siemens Energy saw an impressive 11% surge after reporting robust Q2 earnings and upwardly revising its annual guidance. Nonetheless, the index was on track to achieve a 4% increase for the week.