Back
DAX 40 slips as tech weakness offsets Deutsche Bank earnings boost before Fed

DAX 40 slips as tech weakness offsets Deutsche Bank earnings boost before Fed

Frankfurt stocks gave up early gains ahead of the US Federal Reserve decision as chipmakers stayed under pressure, Deutsche Bank rose on earnings and oil jumped more than 3% on renewed Middle East tensions.

Fact Check
The primary source 'DAX 40 at Three-Week High as Fed Decision Looms' (news/570678, 2026-07-29) directly confirms all claim elements: DAX at ~25,520 (above 25,500) and highest since July 6, an impending U.S. Federal Reserve decision, Deutsche Bank jumping (4% on strong Q2 earnings), a surge in oil prices (>3%), and renewed weakness in chip shares (Infineon). The adjacent report (news/570345) corroborates the index level near 25,500. All specifics align with the claim's framing.
    Reference: 12
Summary

Germany's DAX 40 turned lower on Wednesday, falling about 0.3% to around 25,380 after earlier rising above 25,500 and reaching its highest level since July 6, as weakness in semiconductor and other technology shares outweighed support from strong corporate earnings. Investors were cautious before the US Federal Reserve's policy decision later in the day and awaited earnings from major US technology companies after the market close. Deutsche Bank jumped 4% on stronger-than-expected second-quarter earnings driven by record profits in its investment banking division, RWE gained more than 2% to 3% after better-than-expected first-half results, and BASF rose about 2% to 2.9% after announcing a new share buyback programme. Infineon remained under pressure after Tuesday's 6% drop, with the sector hit by concerns about stretched valuations, stronger Chinese competition, rising investment needs and a disappointing market response to SK Hynix's results that renewed doubts over AI-related spending. Oil prices rose more than 3%, adding to inflation concerns, amid renewed Middle East tensions, a larger-than-expected drawdown in US crude inventories and reports of renewed military strikes involving the US, Saudi Arabia and Iran.

Terms & Concepts
  • share buyback programme: A company plan to repurchase its own shares, often to return capital to investors.
  • investment banking division: The arm of a bank that advises on deals and raises capital, and may also trade securities.
  • crude inventories: Stored supplies of unrefined oil, closely watched as a signal of market balance and price pressure.