DAX Modestly Higher With Geopolitical News In Focus
(RTTNews) - The German stock market's benchmark index DAX moved modestly higher in cautious trade on Friday with investors reacting to the abrupt cancellation of U.S.-Iran peace talks, scheduled to be held in Switzerland.
The cancellation has led to some uncertainty about the two nations securing a lasting peace truce in the Middle East conflict.
The DAX, which climbed to 25,176.56 earlier, was up 82.87 points or 0.33% at 25,110.93 a little while ago.
Rheinmetall climbed 2.2%. BMW gained 1.8%, rebounding from previous session's losses. Mercedes-Benz moved up 1.5%. Porsche Automobil Holing gained nearly 1%.
Infineon Technologies gained 1.7%. Fresenius and Gea Group advanced 1.3% and 1.1%, respectively.
Continental, BASF, Commerzbank, Brenntag, Munich RE, Qiagen and SAP posted modest gains.
Volkswagen, trading ex-dividend, drifted down 4.2%. Adidas and Zalando dropped 1.6% and 1.25%, respectively. Deutsche Telekom, Heidelberg Materials, Henkel, Beiersdorf, Fresenius Medical Care and MTU Aero Engines shed 0.5%-0.9%.
In economic news, data from Destatis showed the annual increase was primarily driven by higher prices of intermediate goods and energy. Intermediate goods prices advanced 4.2% and energy prices climbed 2.5%.
At the same time, prices of capital goods and durable consumer goods increased 2% each. Meanwhile, non-durable goods prices dropped 1.7%.
Excluding energy, producer prices rose 2.3% from the last year and grew 0.7% from April 2026.
On a monthly basis, producer prices were up 0.3%.
