05.08.202616:09:12UTC+00DAX Pauses Rally

The DAX 40 surrendered early gains to finish around 0.3% lower at 26,139 on Wednesday, as investors locked in profits after the benchmark notched a series of record highs in recent sessions. Overall sentiment stayed cautiously optimistic, with markets weighing the potential impact of a US–Iran agreement to reopen the Strait of Hormuz.

Corporate earnings were also in focus. Infineon Technologies was the weakest performer, sliding more than 5% after the company missed high margin expectations, despite reporting record revenue and lifting its full-year outlook. Deutsche Post fell 2.7% even though it beat earnings forecasts and announced an expansion of its share buyback program.

On the upside, Fresenius SE & Co. rose 4.9% to top the index after delivering better-than-expected second-quarter results and raising its full-year earnings guidance. Beiersdorf also gained 4.9%, despite a 3.5% decline in first-half sales driven by softness in the Nivea brand, as investors reacted positively to a €100 million investment plan aimed at revitalizing Nivea’s growth.