BRUSSELS (dpa-AFX) - Germany's equity index DAX is up in positive territory a little before noon on Friday with select stocks finding some support after recent sharp losses. However, with the Middle East War entering its seventh day, the mood in the market remains quite cautious.
In war news, Iran's retaliation in West Asia has spread to Bahrain and Azerbaijan.
Market sentiment has slightly improved amid signs of stabilization in the oil market. The United States has given India a waiver to buy Russian oil for 30 days as the Middle East conflict impacts global energy supply.
The Trump administration is considering emergency measures, including state insurance guarantees for tankers and naval escort to counter rising energy prices.
Also, the White House is reportedly discussing the possibility of a large-scale release of oil from the Strategic Petroleum Reserve (SPR) in coordination with IEA partners.
The DAX was up 37.35 points or 0.16% at 23,811.44 about a quarter before noon.
Among notable gainers, Rheinmetall is rising 2.7%, while Deutsche Post and Beiersdorf are moving up 2.1% and 2%, respectively.
SAP, Scout24, Fresenius and Siemens are gaining 1.4%-1.7%, while Siemens Healthineers and Zalando are advancing by 1.2% and 1.1%, respectively. Adidas, GEA Group and Fresenius Medical Care up with modest gains.
German carrier group Deutsche Lufthansa has climbed nearly 4% after posting in-line earnings for 2025.
Infineon Technologies is down 4.3% following a rating downgrade. Brenntag is declining by 2%, while Qiagen, BASF, Volkswagen, Porsche Automobil Holding, Deutsche Bank, Deutsche Telekom and BMW are down 1%-1.5%.
Allianz, E.ON, Henkel, Heidelberg Materials and Mercedes-Benz are also showing weakness.
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