The DAX steadied on Thursday, gaining 0.05% to 25,853 points after three consecutive sessions of declines, as Brent crude futures retreated from recent highs. The MDax of mid-cap stocks rose 0.06% to 31,978 points, while the Euro Stoxx 50 slipped 0.05%.
Analysts cited a temporary easing of geopolitical jitters in the Middle East as a key factor supporting European equities. U.S. President Donald Trump’s remarks indicating only short-lived attacks on Iran were described as "exactly what markets want to hear" by Thomas Altmann, portfolio manager at QC Partners. The comments helped lift battered Asian tech-heavy benchmarks, including South Korea’s Kospi and Japan’s Nikkei 225.
The DAX had reached a record 26,618 points on Friday, but gains were pared by surging oil prices and elevated bond yields. The index found support above its 50-day moving average, which it tested at 25,727 points on Wednesday, a level widely watched as a gauge of medium-term trend direction.
Markets remain cautious despite the stabilization. Altmann warned that a lasting recovery would require more than a temporary lull in tensions. "The Strait of Hormuz remains closed, and even if attacks cease, a durable peace is still distant," he noted. Andreas Lipkow, chief market analyst at CMC Markets, described the current calm as "deceptive," though he acknowledged that the risk of oil prices breaching $100 per barrel had diminished.
Upbeat economic data from China also contributed to risk appetite, while investors awaited European and U.S. purchasing managers’ indices due later in the session. Chipmaker Broadcom’s quarterly results, released after the U.S. close on Wednesday, failed to impress.
In corporate news, Deutsche Telekom led DAX gainers with a 1.3% rise after activist investor Elliott disclosed a significant stake and suggested dropping plans to merge its U.S. unit T-Mobile US. Instead, Elliott proposed alternatives such as expanding share buybacks to enhance shareholder value. T-Mobile US shares climbed 2.8% in New York on Wednesday. SAP and TeamViewer also advanced 1.2% and 1.6% respectively, boosted by a bullish post-market outlook from U.S. cloud software provider Snowflake.
Auto1 surged 3.8% in the MDax after JPMorgan and Goldman Sachs reiterated positive ratings, while Fuchs gained 1.9% following a withdrawn sell recommendation from Kepler Cheuvreux.
