DAX Down Over 1% On Economic Worries; Allianz, Siemens Energy Up Sharply On Earnings

(RTTNews) - German stocks are down in negative territory on Friday, weighed down by concerns about high valuations in the tech sector, and some uncertainty about the Federal Reserve's policy moves.

Although the longest government shutdown in United States history has ended, the final agreement left major policy questions unresolved. The White House has said last month's jobs report and inflation data would "likely never" be released.

Data showing a slodown in Chinese economy due to softening consumer demand and a deepening property downturn also appears to be weighing on sentiment.

The benchmark DAX was down 257.21 points or 1.07% at 23,785.70 a little while ago.

Infineon Technologies is down more than 5%. Rheinmetall is down 4.3%, while Bayer, SAP and MTU Aero Engines are down 3 to 3.5%.

Zalando, Deutsche Bank, Merck, Commerzbank, Adidas, Fresenius Medical Care, Volkswagen, Heidelberg Materials and Fresenius declining by 1.5 to 3%.

BASF, Deutsche Post, Scout24, RWE, Qiagen, Mercedes-Benz and Porsche Automobil Holding are down 1 to 1.4%.

Siemens Energy is soaring more than 10% on strong results. Siemens Energy reported that its net income attributable to shareholders of the company for the fourth quarter of fiscal year 2025 was 168 million euros or 0.19 euros per share compared to a loss of 292 million euros or 0.34 euros per share in the prior year.

Allianz is gaining 2.5% after reporting third-quarter net income of 2.85 billion euros, up 15% compared to 2.47 billion euros last year.

Looking ahead for fiscal 2025, Allianz now expects to achieve an operating profit of at least 17 billion euros, the upper-end of the full-year outlook range of 16 billion euros, plus or minus 1 billion euros. Most likely, the full-year operating profit will be in the range between 17 billion euros and 17.5 billion euros, it said.

Siemens is up nearly 1.5%, while Deutsche Telekom and E.ON are up marginally.