DAX Rises 1.5% As Stocks Move Higher On Ukraine Ceasefire Hopes

RTTNews | 169 days ago

(RTTNews) - After three successive days of declines, German stocks are up in positive territory Wednesday morning with investors reacting to news that Ukraine has signaled its readiness to accept a U.S. proposal for an "immediate, interim 30-day ceasefire" with Russia.

"A while ago, Ukraine has agreed to the ceasefire. Now we go to Russia and hopefully President Putin will agree to it also," U.S. President Trump said soon after the Jeddah announcement.

On the tariff fron, Russia and the European Union have announced retaliatory tariffs on U.S. imports of steel and aluminum.

The benchmark DAX was up 334.34 points or 1.5% at 22,651.20 a little while ago.

Siemens Energy is climbing up 5.3% and Rheinmetall is rising nearly 5%. Heidelberg Materials is up 3.5%, while Siemens, Commerzbank, MTU Aero Engines, Muench. Rueckvers, Hannover Rueck, Deutsche Bank and Allianz are up 2 to 3%.

Fresenius, RWE, BASF, Deutsche Post, Fresenius Medical Care, Deutsche Boerse and SAP are also noably higher.

Shares of sportswear maker PUMA SE are down 22.7% as the group gave a cautious outlook for the 2025 fiscal year, citing global trade tariffs and currency volatility.

Looking ahead, for fiscal 2025, the company projects adjusted EBIT excluding one-time costs in a range between 520 million euros and 600 million euros. Currency-adjusted sales growth is projected at low- to mid-single digit percentage rate.

In fiscal 2024, EBIT was 622 million euros with an EBIT margin of 7.1%, and currency-adjusted sales growth was 4.4%.

Porsche is down 3.7% after slashing profit targets for fiscal 2025. The company reported weak operating profit in fiscal 2024 amid lower sales and deliveries. The lower results were mainly due to the continuing market challenges in China.

In fiscal 2024, operating profit was 5.64 billion euros, down 22.6% from last year's 7.28 billion euros. Operating return on sales was 14.1%, lower than prior year's 18.0%.

Henkel and Zalando are down 1.5% and 1.3%, respectively. Brenntag is down marginally. The chemical maker said that its profit attributable to shareholders for financial year 2024 declined to 536.2 million euros or 3.71 euros per share from 714.9 million euros or 4.73 euros per share in the prior year.

U.S. Pending Home Sales Fall More Than Expected In July

A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. fell by more than expected in the month of July. NAR said its pending home sales index decreased by 0.4 percent to 71.7 in July after sliding by 0.8 percent to 72.0 in June. Economists had expected pending home sales to edge down by 0.1 percent.

RTTNews | 25 minutes ago

Eurozone Economic Confidence Weakens In August

Eurozone economic sentiment softened unexpectedly in August as only industry and retail trade showed improvements, survey results from the European Commission showed Thursday. The economic sentiment indicator slid to 95.2 in August from a revised 95.7 in the previous month. The score was forecast rise to 96.0.

RTTNews | 36 minutes ago

Walgreen Co. Now Operating As Private Standalone Company Under Sycamore Partners

Independent retail pharmacy Walgreen Co. announced Thursday it is now operating as a private standalone company following the closure of the acquisition of Walgreens Boots Alliance, Inc. (WBA) by New York-based private equity firm Sycamore Partners.

RTTNews | 47 minutes ago

U.S. Economy Surges More Than Previously Estimated In Q2

The U.S. economy grew by more than previously estimated in the second quarter of 2025, according to revised data released by the Commerce Department on Thursday. The report said real gross domestic product shot up by 3.3 percent in the second quarter compared to the previously reported 3.0 percent surge. Economists had expected the jump in GDP to be upwardly revised to 3.1 percent.

RTTNews | 58 minutes ago

U.S. Weekly Jobless Claims Dip Roughly In Line With Estimates

A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd. The Labor Department said initial jobless claims dipped to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000. Economists had expected jobless claims to slip to 230,000.

RTTNews | 1h 4min ago

Switzerland Logs Weaker Growth, Trims 2026 Outlook

The Swiss economy expanded modestly in the second quarter, as estimated earlier, and higher U.S. tariffs are set to push down growth prospects, the State Secretariat for Economic Affairs said Thursday. Gross domestic product grew 0.1 percent from the first quarter, unchanged from the flash estimate. Growth softened notably from 0.7 percent in the first quarter.

RTTNews | 2h 10min ago

U.S. GDP Jumps More Than Previously Estimated In Q2

The U.S. economy grew by more than previously estimated in the second quarter of 2025, according to revised data released by the Commerce Department on Thursday.

RTTNews | 2h 17min ago

U.S. Weekly Jobless Claims Edge Down To 229,000

A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd.

RTTNews | 2h 23min ago

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