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DAX Extends Recent Gains, Climbs To Fresh Record High
(RTTNews) - German stocks edged higher to fresh record highs Wednesday morning, extending gains to a third straight session, with investors digesting the latest batch of earnings updates, and continuing to assess the likely impact of U.S. government's trade and economic policies.
Geopolitical concerns and Trump's threat that he might unveil new tariffs of about 25% on automobile imports, semiconductors and pharma products imported to the U.S. effective early April, weighed on sentiment and limited market's upside.
The benchmark DAX, which scaled a fresh record high at 22,936.68 earlier in the session, was up 40.30 points or 0.18% at 22,903.55 a little while ago.
Rheinmetall is rising about 2.5%. E.ON. is up nearly 1.5%, while RWE, SAP, Merck, Deutsche Telekom, Deutsche Boerse, Commerzbank, Siemens, Infineon and Beiersdorf are gaining 0.5 to 1%.
MTU Aero Engines is plunging more than 6%. The company reported that its fourth quarter net income declined to 143 million euros from 215 million euros in the same quarter last year. Earnings per basic share was 2.56 euros, down from 3.96 euros in the previous year.
MTU expects revenue to be between 8.7 billion euros and 8.9 billion euros in 2025. It had previously forecast between 8.3 billion euros and 8.5 billion euros, with all business areas contributing to the increase.
HeidelbergCement is down 2.7% and Siemens Healthineers is declining 1.7%.
Porsche, Volkswagen, BASF, Siemens Energy, Mercedes-Benz, Hannover Rueck and Adidas are down 0.5 to 1.2%.
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