FX.co ★ DAX Snaps 5-Day Decline

Frankfurt's DAX index climbed by over 1% on Thursday, surpassing the 24,250 mark and ending a five-session downturn. This upward momentum is attributed to positive sentiment surrounding a possible trade agreement between the United States and the European Union, coupled with encouraging corporate earnings reports. Recent negotiations between US and EU entities regarding the purchase of US natural gas have fueled speculation about a more comprehensive trade accord. This stems from President Trump's insistence that Europe increase its importation of American energy to forestall potential tariffs. In response, the EU's lead trade negotiator, Maroš Šefcovic, traveled to Washington on Wednesday for high-ranking negotiations intended to finalize an agreement before Trump's stipulated deadline. Notably, favorable earnings reported by TSMC provided a boost to chip stocks, which had experienced a decline the previous day. Among the notable gainers were Siemens, Siemens Energy, Infineon Technologies, and SAP, each posting gains between 1.4% and 3.6%. The automotive and pharmaceutical sectors also saw significant advances.