DAX 40 slips 0.2% after hitting record 26,574 as rally ends

The DAX 40 closed about 0.2% lower on Wednesday after rising to a fresh intraday record of 26,574, snapping a four-day rally as investors locked in gains. Sentiment was tempered by uncertainty around the Iran conflict and the reopening of the Strait of Hormuz, while markets also weighed economic data and corporate earnings. Selling pressure hit software, consumer cyclicals, telecoms, utilities and auto stocks, even as industrials and technology names moved higher. E.ON fell nearly 3% after posting modest first-half earnings growth, and its CEO warned about possible attacks on Germany’s energy infrastructure. Brenntag lost 2.2% after JPMorgan kept its Sell rating despite what the report described as a solid second quarter and a stronger full-year earnings outlook. Among gainers, Rheinmetall rose 2.3%, Siemens Energy added 1.9%, Infineon Technologies gained 1.1%, and TKMS jumped 8.5% after strong results and an upgraded full-year revenue outlook.

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