The German blue-chip index DAX is poised to stabilize on Friday, marking a tentative rebound after four consecutive sessions of losses. One hour before the open, the X-DAX futures contract indicated a 0.1% gain to 26,013 points, lifting the index back above the 26,000-point threshold. The move follows the index's ability to hold its 21-day moving average on Thursday, a technical level that helped arrest the decline and preserve the short-term trend.
The Euro Stoxx 50, the regional benchmark, is also expected to edge higher by 0.2%, signaling a modest recovery across major eurozone equities. However, international markets offered little directional impetus, with Asian benchmarks diverging: Japan's Nikkei 225 and South Korea's Kospi traded mixed, while U.S. markets closed with the Dow Jones Industrial Average sharply lower and the Nasdaq 100 roughly flat after European trading hours.
Analyst Frank Sohlleder of ActivTrades characterized the recent investor retreat as an "orderly withdrawal," attributing it to rising volatility in global bond markets. He highlighted the upcoming U.S. Treasury auction of 30-year bonds as a critical test: "If demand from investors falls short of expectations, bond market stress could intensify and exert further pressure on the DAX," he warned.
Corporate earnings updates provided mixed signals ahead of the weekend. German optical retailer Fielmann cut its full-year revenue and adjusted EBITDA guidance, citing persistently weak consumer sentiment in its core German market. The company had already signaled caution in early July, when it reported half-year results and hinted at potential underperformance relative to its full-year targets. Fielmann's shares fell sharply in pre-market trading.
CTS Eventim, the ticketing and event group, posted a second-quarter revenue and adjusted EBITDA increase in the low double digits year-over-year, though growth momentum slowed compared with the start of the year. Traders described the report as mixed, citing disappointing margin development. The company reiterated its full-year outlook, but its shares came under pressure before the open.
Healthcare provider FMC faced modest selling pressure after Fresenius, its majority shareholder, reduced its stake further. The German conglomerate sold 7.8 million FMC shares to institutional investors for approximately €300 million, representing roughly 2.9% of FMC's share capital.
