On Wednesday, Frankfurt's DAX index experienced a modest increase of 0.3%, reaching approximately 24,275—a peak not seen since June 6—marking the second consecutive day of gains. This uptick reflected a cautious optimism across European markets regarding a potential trade agreement between the United States and the European Union. The European Commission has recently highlighted progress in negotiations and expressed its intention to secure a fundamental agreement by July 9. Meanwhile, President Trump announced on Tuesday his plan to impose a 50% tariff on imported copper, as well as long-threatened levies on semiconductors and pharmaceuticals.
In the corporate landscape, defense sector stocks, such as Rheinmetall, alongside financial institutions, led the market performance. Notably, Commerzbank shares surged over 2%, positioning it as the leading performer on the DAX, following the news that UniCredit increased its holding to 20%, thus becoming the German bank’s largest shareholder. Conversely, Porsche AG, Sartorius, Merck, and Infineon Technologies recorded the most significant declines, with losses ranging from 0.8% to 1.4%.
