FX.co ★ DAX Up for 3rd Day

On Wednesday, Frankfurt's DAX index saw a gain of over 0.5%, nearing the 24,000 threshold for a third consecutive session, buoyed by robust corporate earnings. Leading the charge was Vonovia, which soared over 4% after announcing an 11% increase in earnings and raising its guidance for 2025. Siemens Energy also reported strong performance, advancing 1.8% after reporting a €697 million net profit for the third quarter, a stark improvement from a €102 million loss the previous year, driven by record orders and solid revenue across segments. The company maintained the improved guidance issued in the second quarter, anticipating earnings near the upper end of the projected range. Fresenius SE gained more than 1%, having reaffirmed its 2024 outlook and reported higher sales and profit for the second quarter. Conversely, Beiersdorf experienced a decline of over 7% after tempering its growth forecast, citing a challenging market environment. Bayer also faced a decrease, falling nearly 4% following the release of its in-line Q2 results.