Germany’s benchmark rebounded from a near one-month low as stronger July euro zone PMIs and easing oil prices offset concerns over new U.S. tariffs, while SAP surged and Volkswagen fell on results.
The DAX 40 rose more than 1% on Friday to above 25,100, recovering from a near one-month low as investors welcomed stronger-than-expected July PMI data, upbeat corporate earnings and later easing in oil prices. S&P Global’s survey showed euro zone business activity returned to growth in July, with Germany leading the recovery, while reports that Pakistan was seeking to revive U.S.-Iran peace talks helped oil retreat late in the European session. Investors were still assessing new U.S. tariffs on imports from 60 trading partners, including the EU, where the tariff is expected to remain capped at 10% according to the earlier report. SAP jumped between 5% and 10% after stronger-than-expected quarterly revenue and a higher 2026 adjusted profit guidance, while Volkswagen fell roughly 2% to 2.4% after weaker earnings and a lower revenue outlook. The index was up 1.1% for the week.