Frankfurt’s DAX 40 finished about 0.5% lower at 24,856 on Wednesday, weighed down by renewed concerns over the impact of artificial intelligence on established business models and a mixed batch of corporate earnings. At the same time, stronger-than-expected US employment data was broadly welcomed, as it brightened the global economic outlook but reduced the likelihood of an imminent Fed rate cut.
Among the sharpest decliners were Zalando (-5.9%), SAP (-5.4%) and Scout24 (-3.3%), amid worries that AI could disrupt their software-heavy business models. Commerzbank fell 2.4%, with its guidance for 2026—while in line with expectations—failing to excite investors despite the bank posting a record operating result for 2025.
In contrast, Siemens Energy was a notable outperformer, surging 7.8% after its net profit almost tripled in the first quarter of its fiscal year. The company benefited from record order intake, supported by robust AI-driven demand for gas turbines and power grid infrastructure.
