The DAX opened lower on Thursday, extending prior-session losses as elevated oil prices continued to weigh on European equity sentiment. The German benchmark index fell 0.2% to 25,352 points in early trade, testing the 100-day moving average again. The MDAX, tracking mid-cap companies, dropped 0.6% to 31,031.
Oil markets remain the dominant uncertainty for investors. Brent crude traded clearly above $100 a barrel on Thursday morning after prices surged midweek following another attack on a cargo vessel in the Strait of Hormuz. The Iranian government has tied any potential reopening of the waterway to conditions in ongoing talks with the United States.
The oil-price dynamic carries direct implications for inflation and interest-rate expectations across Europe, a key concern heading into further monetary-policy decisions from the European Central Bank.
On US markets, the Nasdaq 100 reversed after setting a new intraday high on Tuesday, pulling back toward its June peak. The retreat added to headwinds for European technology-sensitive names.
In trade, US Treasury Secretary Scott Bessent said on Fox News that additional tariffs on Chinese imports will be delayed by two more months, extending the pause already in place until November. The comments came as President Trump prepares to meet Chinese President Xi Jinping during Xi's three-day visit to Washington.
Among individual stocks, MTU engines rose more than 1% after Citigroup abandoned a sell rating and moved to a buy. Analyst Conor Dwyer said the stock's valuation discount versus rival Safran appropriately reflected weaker cash-flow generation, but expects a significant improvement in free-cash flow by 2030.
Shares of biotech producer Verbio fell more than 6% in the SDax after the company's profit forecast disappointed. At the top of the SDax, Shelly Group gained 4.5% to 67.30 euros following reports that Schneider Electric had made a takeover bid of 70 euros per share for the maker of smart-device hardware.
