BRUSSELS (dpa-AFX) - The German market's benchmark index DAX remains in negative territory around noon on Thursday despite coming off the session's lows. Investors are mostly cautious, digesting the latest batch of national economic data and earnings announcements.
The DAX, which drifted down to 23,931.02 earlier in the session, was down 15.08 points or 0.06% at 24,033.79 a few minutes past noon.
Shares of online fashion marketplace Zalando are soaring nearly 9% on strong results, thanks to the acquisition of rival About You in July 2025.
Deutsche Post is up 6.3% on higher earnings in the third quarter. Profit before income taxes rose to €1.269 billion from €1.158 billion in the same quarter of 2024.
Rheinmetall is up 4.3% after the company said its earning per share from continuing operations improved to 8.34 euros in the nine-month period ended September, from 7.32 euros per share in the previous year.
German automotive parts maker Continental is up with a modest gain of about 0.4%. The company reported that its third quarter net loss attributable to the shareholders of the parent was 756 million euros or 3.78 euros per share compared to net income of 486 million euros or 2.43 euros per share in the prior year.
Consumer goods and adhesives maker Henkel climbed nearly 2%, but pared its gains subsequently and was up just marginally a little while ago. The stock moved higher in early trades on higher higher organic sales in Q3.
Heidelberg Materials is down 3.6% despite reporting a growth in third-quarter revenue. Brenntag is down 3.4%, while Deutsche Boerse, BMW and Munich RE are lower by 1.7%, 1.4% and 1.1%, respectively.
Commerzbank is declining by about 1.7% after third-quarter results fell short of analysts' estimates.
In economic news, Germany's industrial output expanded 1.3% in September after dropping by 3.7% in August, Destatis reported. Economists had forecast a monthly growth of 3%.
Year-on-year, industrial production logged a slower decline of 1%, following a 3.6% decrease in August.
Germany's construction sector registered its steepest decline in seven months in October, survey data from S&P Global showed.
The construction Purchasing Managers' Index slid unexpectedly to 42.8 in October from 46.2 in the previous month. The index was forecast to rise to 46.9.
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