The German DAX edged up 0.09% to 26,310 points in early trade on Thursday, failing to match Wednesday’s intraday high as gains remained subdued despite supportive US technology earnings.
Analysts at CMC Markets noted that while the market’s momentum was restrained, sentiment improved following Nvidia’s results. The MDax of mid-cap stocks advanced 0.34% to 32,631 points, while the Euro Stoxx 50 hovered just above flat territory.
Investor attention is turning toward the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, where Fed Governor Kevin Warsh is scheduled to deliver remarks on Friday. The event is widely monitored for signals on monetary policy direction.
US chipmakers’ quarterly reports continued to buoy German semiconductor and AI-exposed equities. Infineon Technologies rose 2.4% and Aixtron gained 3.8%, while SAP’s shares trimmed an initial gain to finish up 0.9% after a weak performance the prior session.
UBS maintained its positive outlook on the artificial intelligence sector, reiterating that AI remains a key driver for broader market sentiment. The bank upgraded Bilfinger to ‘Buy’, citing reduced margin expectations that it said largely eliminated downside risk for the industrial services group. The stock climbed 3.3% after the upgrade, with analysts also highlighting a stronger-than-expected order intake in the second quarter.
Asta Energy, a recent SDax entrant, surged about 3% following its half-year results and an upwardly revised outlook. The copper specialist cited robust demand from the energy sector as a key catalyst for its performance.
