The German DAX was poised to fall for a third straight session on Wednesday, with the X-DAX indicating a 0.5% decline to 25,837 points at 07:30 CET, pressuring the index further below the 26,000 mark.
The retreat follows a 2.5% slide from July’s record high of 26,618 points, pushing the benchmark closer to the 50-day moving average after dipping beneath the July interim peak of 25,900 points. The Euro Stoxx 50 was also expected to open 0.4% lower.
Oil prices extended gains, with Brent crude trading above $95 per barrel for the first time since mid-June, driven by escalating tensions between the U.S. and Iran. The U.S. military reported strikes on Iranian Revolutionary Guard air defense and radar systems, as well as mining equipment, while Iran launched missile and drone attacks on allied states including Jordan, Kuwait, and Bahrain.
In corporate developments, Volkswagen is set to exit the Euro Stoxx 50 on September 21, according to index provider ISS Stoxx, as the automaker’s shares have fallen more than 25% this year and nearly two-thirds over five years. Fraport and auto supplier Aumovio are also among companies leaving the Stoxx Europe 600.
Sentiment improved for Adidas after Barclays initiated coverage with a positive rating, citing potential upside from the company’s innovation days scheduled for September 23-24. Conversely, Goldman Sachs upgraded Deutsche Bank to buy, citing expectations of a "higher profitability era" and attractive valuation.
