The DAX steadied on Wednesday after early losses, with the German blue-chip index up 0.1% to 26,149 points by early afternoon, having briefly tested the 26,000 level earlier in the session.
The index’s modest rebound came as investors balanced concerns over rising long-term bond yields and geopolitical tensions in the Middle East. The MDAX of mid-cap stocks rose 0.4% to 31,951, while the Euro Stoxx 50 also advanced. U.S. futures pointed to a higher open.
Semiconductor shares led the recovery after Monday’s broad pullback, with the sector sensitive to financing costs amid elevated long-end yields. LBBW cited growing unease over whether planned artificial-intelligence investment programs can remain viable in a higher-rate environment. The tech correction had extended into Asian trade, though Infineon trimmed its decline to 0.7%.
Corporate actions provided support: SK Hynix announced a large share buyback, while Google and Marvell Technology disclosed a semiconductor deal that helped stabilize sentiment. In health care, Merck & Co and Moderna reported progress on an mRNA cancer vaccine, sending Moderna’s pre-market shares sharply higher.
Among smaller caps, Heidelberger Druck maintained its full-year guidance despite a weak first-quarter performance, though its shares briefly fell before paring losses to under 1%. Redcare Pharmacy’s stock edged up after DocMorris reported a narrowed first-half loss and raised revenue and profit guidance, though the move was limited.
Defense names outperformed on takeover speculation. Renk surged 2% after JPMorgan analyst David Perry highlighted potential acquisition interest, even without a concrete bid. Vincorion, a Renk supplier, jumped 6% on the same optimism. Rheinmetall, by contrast, lagged in the DAX with a nearly 2% decline, with no immediate M&A premium priced in.
