Germany’s benchmark approached its early July record high at month-end as technology shares rebounded, earnings updates broadly supported sentiment and weaker oil prices offset Middle East tensions.
The DAX 40 climbed 0.8% to 25,800 on the final trading session of July, reaching its highest level since the record peak set earlier this month and putting the index on track for a monthly gain of more than 3%. The advance was driven by a rebound in technology stocks, broadly upbeat corporate earnings and a continued sharp decline in oil prices, even as geopolitical tensions in the Middle East persisted. Infineon led the benchmark with a gain of more than 6%, followed by Siemens Energy and Hochtief, which both rose 3.7%. On the downside, Siemens Healthineers fell more than 2% after lowering its fiscal 2025/26 revenue guidance because of continued weakness in its diagnostics business. Elsewhere, Hensoldt said order intake more than doubled from a year earlier, Puma reaffirmed its full-year guidance despite weaker demand, and Siltronic posted strong quarterly results.