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DAX Up Marginally In Cautious Trade
(RTTNews) - The German market is struggling a bit on Wednesday as worries about tariffs and some weak corporate earnings updates deter investors from picking up stocks.
Disappointing updates from chipmaker ASML Holdings and French auto major Renault are hurting sentiment.
The benchmark DAX was up 23.01 or 0.1% at 24,107.08 a little while ago.
Brenntag and Volkswagen are down 2.2% and 2.1%, respectively. Porsche is down 1.8% and BASF is declining 1.6%.
Continental, Mercedes-Benz, Vonovia, Heidelberg Materials, Porsche Automobil Holding, Siemens, BMW and Infineon Technologies are down 0.7 to 1.2%. Siemens Energy, Sartorius and Merck are also weak.
Zalando is gaining about 2.3%. Commerzbank, Munich RE, Deutsche Boerse and Deutsche Telekom are up 1.3 to 1.6%. Deutsche Bank, E.ON and Allianz are up nearly 1%.
Chipmaking supplier ASML Holding plummeted 7.6 percent after saying it could no longer guarantee growth in 2026 due to uncertainty from U.S. tariffs.
Shares of French automaker Renault are tanking more than 16% after the company lowered its guidance for the year, and announced the appointment of a new interim chief executive officer.
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