FX.co ★ DAX Turns Slightly Positive

On Thursday, Frankfurt's DAX index experienced modest gains, hovering around the 24,150 mark, aligning with other European markets. Investors proceeded with caution following the Federal Reserve's policy announcement and disappointing performance reports from tech giant Oracle. In a widely expected move, the US Federal Reserve reduced interest rates by 25 basis points. Notably, Chairman Powell suggested the possibility of another rate cut in 2026. Daimler Truck emerged as the index leader, climbing 3.7%, following Bank of America’s decision to reaffirm its ‘Buy’ rating and set a price target of €43 after discussions with the company’s Chief Financial Officer. Additionally, details have surfaced regarding Daimler Truck's ambitious cost-cutting initiative, which aims to reduce expenses by €1 billion by 2030. Meanwhile, Munich Re saw a 2.2% increase in its share price, buoyed by the reaffirmation of its 2025 profit target and plans to further enhance profitability through additional cost-saving measures by the decade's end. Conversely, Deutsche Borse (-2.5%), Symrise (-2.4%), E.ON (-2.2%), and SAP (-2%) ranked among the primary decliners.