Germany's benchmark stayed close to record highs as traders weighed earnings, watched Middle East developments for signs of a US-Iran deal, and kept selling tech and AI-related stocks.
The DAX 40 was little changed at about 26,150 on Thursday, keeping close to recent record highs as investors balanced company earnings with geopolitical developments in the Middle East. Market attention also stayed on the possibility that a deal between the US and Iran could be nearing, while renewed pressure hit technology and AI-linked shares. Deutsche Telekom was among the strongest performers, gaining more than 5% after saying it had raised its 2026 share buyback program by €3 billion, bringing the total to as much as €5 billion. Siemens fell more than 5% after quarterly results failed to impress investors, even though the company reported record industrial profit and a record level of new orders. Rheinmetall slipped nearly 1% after cutting its 2026 sales outlook following the German government's cancellation of a delayed frigate programme that the company had been widely expected to win, despite reporting an almost 70% increase in second-quarter sales.