FX.co ★ DAX Down for 2nd Day

The Frankfurt DAX index declined by 0.5% to approximately 23,415 on Thursday, marking its second consecutive session of losses, in line with other European markets. Investor sentiment was dampened by renewed global trade concerns and a spate of lackluster corporate earnings reports. Leading the decline, shares of German industrial conglomerate Thyssenkrupp tumbled 8% following the announcement of a 5% year-on-year reduction in second-quarter sales, unmet earnings expectations, and a greater-than-anticipated negative free cash flow. Similarly, Siemens' stock dropped 3.6% after reporting unsatisfactory Q2 earnings, attributing the results to escalating economic uncertainty, while maintaining its full-year outlook unchanged. Additionally, Merck saw a reduction of over 4% in its share price after revising its full-year guidance downward. On a brighter note, Deutsche Telekom experienced a slight gain of 0.2% as it exceeded revenue projections and upgraded its full-year forecast.