The DAX stabilized above the 26,000-point mark on Friday, halting a four-day losing streak as the German blue-chip index rose 0.31% to 26,063 points within the first hour of trading.
The benchmark index had struggled to hold the key level earlier in the session before recovering, while posting a weekly decline of 1.4%. Analysts noted that the recent upward move in bond yields had weighed on equities, though the DAX remained above its 21-day moving average, preserving the short-term trend.
The MDax for mid-cap stocks advanced 0.58% to 31,901 points, while the Euro Stoxx 50 gained 0.5%. Global markets provided mixed signals, with Japan’s Nikkei 225 and South Korea’s Kospi diverging, and U.S. benchmarks ending mixed after Thursday’s session.
Corporate earnings updates added to the day’s volatility. Fielmann slumped 7.3% to a low of €37.95, its weakest level since spring 2023, after the optician group issued a cautious outlook and lowered full-year sales and EBITDA margin guidance to the lower end of its target ranges. Consensus estimates had previously been above the upper bounds, and the company’s forecast for accelerated second-half revenue growth failed to ease concerns.
CTS Eventim reported a double-digit percentage increase in second-quarter revenue and adjusted EBITDA, though growth slowed compared with the start of the year. The ticketing and events group’s shares fell 5.4% despite confirming its full-year guidance, as traders cited mixed results and disappointing margins.
FMC declined 0.8% after Fresenius reduced its stake by 7.8 million shares, worth roughly €300 million, representing 2.9% of FMC’s share capital, in a placement to institutional investors. Fresenius shares were little changed.
Analysts described the recent market pullback as a "controlled retreat," with investors grappling with heightened volatility in bond markets. The DAX’s five consecutive losing sessions marked the longest streak since April, though trading volumes remained subdued, suggesting limited profit-taking amid thin liquidity.
