The benchmark DAX of the German stock market reached a new record high on Thursday morning, influenced by escalating geopolitical tensions stemming from the U.S. seizure of two oil tankers. One of the tankers bore the Russian flag.

However, after rising to 25,222.92, the index subsequently pared gains and slipped into negative territory. The index was observed at 25,073.99 recently, reflecting a decline of 24.54 points or 0.1% compared to the prior close. Defense stocks experienced an uptick following U.S. President Donald Trump’s call for increased defense spending in the United States.

• Rheinmetall experienced an increase of 1.5%.
• Bayer, E.ON, Henkel, Fresenius, Deutsche Bank, Allianz, Deutsche Telekom, and Siemens Healthineers recorded gains ranging from 0.3% to 1%.
• Zalando experienced a decline of approximately 2.5%.
• Siemens Energy, Adidas, BMW, Brenntag, and Volkswagen saw losses ranging from 1% to 1.7%.
• Porsche Automobil Holding, Deutsche Boerse, Infineon Technologies, Heidelberg Materials, Fresenius Medical Care, Mercedes-Benz, and Beiersdorf experienced declines ranging from 0.5% to 1%.

In recent economic developments, the Federal Statistical Office reported that Germany’s factory orders experienced a notable increase of 5.6% month-on-month in November 2025, following an upward revision of the previous month’s growth to 1.6%. This represents the third consecutive monthly increase and the most robust rate observed since December 2024.