DAX Rises on Crude Dip and Iran Peace Talks

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German stocks experienced an upward movement on Friday, supported by declining oil prices and reduced bond yields, as optimism grew regarding the potential reopening of the Strait of Hormuz within a week. Brent crude futures for the front-month contract declined to a low of $104.51 a barrel before recovering slightly to $105.24, reflecting a decrease of 1.4% from the previous close.

Reports indicate that the Washington Post has cited Iranian Foreign Minister Abbas Araghchi, who stated on the sidelines of the UN General Assembly session in New York that Iran has presented a proposal to U.S. officials via mediators this week aimed at concluding the Middle East war. Despite divergences regarding Iran, Taiwan, and trade, Trump characterised the meeting as “great” and praised the “truly great friendship” he has established with his counterpart. China’s Ministry of Foreign Affairs characterised Xi’s visit to the U.S. as a “great visit.”

The benchmark DAX was up 184.58 points or 0.73% at 25,440.50 about half an hour past noon.

  • Siemens Energy experienced an increase exceeding 3%. Commerzbank and Deutsche Bank experienced increases of 2.75% and 2.5%, respectively. Adidas experienced an increase of 2.3%.
  • Hochtief, Heidelberg Materials, Siemens, Gea Group, RWE, Siemens Healthineers, Qiagen, Infineon Technologies, Bayer, Vonovia, Allianz, and Volkswagen experienced gains ranging from 1% to 1.8%.
  • Fresenius, Deutsche Post, Beiersdorf, E.ON, Continental, Brenntag, Merck, Daimler Truck Holding, and MTU Aero Engines experienced upward movement.
  • Rheinmetall experienced a decline of approximately 1.4%. BASF experienced a decline of 0.6%, while Hannover RE and Scout24 saw slight decreases as well.
  • HelloFresh experienced a decline of nearly 12% following the company’s revision of its outlook for the financial year 2026. This adjustment was prompted by a more significant reduction in marketing expenditures than anticipated, which adversely affected customer acquisition efforts.

In economic news, German consumer confidence is poised to decline in October, as escalating energy prices have negatively impacted income expectations, according to the monthly survey results of the NIM Consumer Climate powered by GfK. The forward-looking consumer sentiment index declined more than anticipated to -30.6 in October, down from -26.8 in September. The score was observed at -27.1.