The DAX closed below 26,000 points for the fourth consecutive session on Thursday, extending losses as Brent crude oil prices climbed toward $100 per barrel.
The German benchmark index fell 0.42% to 25,983.04 points, its lowest level since early in the month, while the MDax of mid-cap stocks declined 0.34% to 31,715.53. The DAX’s record high of 26,573 points, set just last week, now appears increasingly distant as sentiment remains pressured by rising bond yields and elevated energy prices.
Geopolitical risks in the Middle East continued to weigh on markets, with U.S. President Donald Trump threatening Iran with what he described as an unprecedented "economic war" amid stalled nuclear negotiations. Analysts at Landesbank Helaba noted that the situation in the region remains tense, with the Strait of Hormuz— a critical shipping lane— effectively off-limits to free navigation. "Energy prices have settled at elevated levels," the bank stated, "and there is little prospect of relief without a diplomatic breakthrough."
Stock-specific moves dominated trading. Sartorius shares surged more than 6% after UBS upgraded the biotech firm, citing its premium growth as warranting a premium valuation. Continental advanced about 1% following a positive outlook from JPMorgan, which upgraded the automaker and rival Michelin. The bank’s analyst, Jose Asumendi, highlighted the companies’ resilience in a challenging operating environment.
Brenntag underperformed, dropping roughly 1% after Bank of America reinstated its "Underperform" rating on the chemicals distributor. Ströer also declined by about 3% after Kepler Cheuvreux withdrew its buy recommendation on the advertising group.
In broader European trading, the Euro Stoxx 50 fell 0.35%. Outside the eurozone, Swiss and London equities ended little changed, while the Dow Jones Industrial Average in New York was down 0.7% at the European close.
