Germany’s equity benchmark DAX was firmly in positive territory a little past noon on Wednesday as investors closely monitored the political situation in European countries and developments from the Middle East, while also anticipating quarterly earnings announcements. Elevated crude oil prices constrained the market’s potential for upward movement. Brent crude front-month futures increased to $110.75 a barrel, reflecting an approximate gain of 1.7%.
Oil prices increased following remarks from Iranian President Masoud Pezeshkian, who stated that the United States should terminate its pressure and threats, halt regional pressure, and remove economic sanctions prior to any negotiations. The DAX experienced an increase of 132.51 points, reflecting a rise of 0.52%, reaching a level of 25,436.93 around 12:15 PM.
- Tech stocks Infineon Technologies and SAP experienced increases of 2.5% and 1.5%, respectively.
- Shares of sportswear maker Adidas experienced an increase of 2.3% following the company’s upward revision of its FY26 profit outlook. Adidas has disclosed its preliminary results for the third quarter, indicating an increase in both operating profit and revenues. Adidas maintains its outlook for currency-neutral revenue growth in the range of 9% to 10%, anticipating this will result in increased profitability.
- Revenues experienced a 9% increase compared to the previous year, reaching 7.252 billion euros. In currency-neutral terms, revenues experienced a growth of 7% during the quarter. The company’s gross margin experienced an enhancement of 2.5 percentage points, reaching 54.3%. Third-quarter operating profit rose by 37% to reach 1.008 billion euros, marking the highest quarterly level ever recorded.
- Bayer experienced an increase of 1.5%. Commerzbank, Vonovia, Siemens, RWE, Fresenius, and Zalando saw gains ranging from 1% to 1.4%. Qiagen, Scout24, Allianz, Siemens Energy, and Brenntag experienced moderate increases.
- Fresenius Medical Care experienced a decline exceeding 2%. Continental experienced a decline of 1.4%, whereas Volkswagen and Rheinmetall saw reductions of 1.1% and 1%, respectively.
- BMW, MTU Aero Engines, E.ON, and Mercedes-Benz experienced a decline ranging from 0.5% to 0.9%.
