DAX 40 showed signs of weakness on Thursday, as investors remained cautious amid a series of earnings announcements and closely monitored developments in U.S.-China trade relations and the broader geopolitical landscape. Today, EU countries officially implemented a 19th package of sanctions targeting Russia in response to its military actions in Ukraine, including a ban on the importation of Russian liquefied natural gas. “It represents a substantial initiative aimed at addressing primary Russian revenue sources via new energy, financial, and trade strategies,” stated the Danish rotating presidency of the EU. The benchmark DAX declined by 100.32 points, or 0.42%, settling at 24,057.45.

Several major companies experienced declines, including SAP, which fell 2.5% after reporting third-quarter earnings of EUR 2.051 billion, or EUR 1.71 per share, compared with EUR 1.441 billion, or EUR 1.24 per share, in the same quarter last year. Infineon Technologies dropped 1.8%, and Heidelberg Materials declined about 1.7%. Other companies, such as Vonovia, Brenntag, Merck, Siemens, GEA Group, Fresenius Medical Care, Deutsche Post, E.ON, Siemens Healthineers, and RWE, saw decreases ranging from 0.7% to 1.25%.

On the upside, Siemens Energy gained 2.7%, while MTU Aero Engines, Rheinmetall, Mercedes-Benz, and Fresenius posted increases between 1% and 1.5%. MTU Aero Engines saw a 1.5% rise due to improved earnings, reporting a net income of EUR 250 million, or EUR 4.63 per share, for the third quarter, up from EUR 211 million, or EUR 3.90 per share, in the same quarter last year. The company now expects a mid-twenties percentage increase in adjusted EBIT for 2025, reaching the upper end of prior guidance, with free cash flow projected between EUR 350 million and 400 million.

Other companies with modest gains included Beiersdorf, which rose nearly 1% with total Q3 sales of EUR 2.35 billion, reflecting a 0.9% decline from the previous year but showing organic growth of 1.7%. Rheinmetall, Mercedes-Benz, and Fresenius posted increases ranging from 1% to 1.25%, while Commerzbank, Volkswagen, Deutsche Boerse, and Deutsche Bank recorded more moderate gains between 0.4% and 0.75%. The mixed performance reflects investor caution amid geopolitical tensions and selective optimism driven by strong individual corporate results.