BRUSSELS (dpa-AFX) - After a setback early on in the session amid an escalation in tensions in the Middle East following Iran's drone attacks on oil tankers, the German market recovered on Thursday thanks to some strong buying in select stocks, including Zalando, Rheinmetall and RWE.
The sharp jump in oil prices due to an escalation in strikes on commercial vessels in the Gulf hurt sentiment. Brent crude futures rose to $101.59 a barrel, before retreating to around $96.50, still up nearly 5% over previous close.
The benchmark DAX, which fell to 23,461.95, recovered to 23,664.77, and was last seen at 23,604.81, up 17.03 points or 0.07%.
Shares of online retailer Zalando are up nearly 12% after the company reported strong financial results for 2025, with double-digit growth across revenue, gross merchandise value, and profit as the retailer accelerates its AI-driven strategy.
The company recorded group revenue of €12.3 billion, up 16.8% year on year, while GMV rose 14.7% to €17.6 billion. Adjusted EBIT increased 15.6% to €591 million, with the group maintaining a margin of 4.8%
Daimler Truck Holding is up 1.3% after it guided for a broadly stable 2026 profit margin in its industrial business.
Energy company RWE is gaining about 3% after meeting its financial guidance for 2025. Reinsurer Hannover Re is up 3% after reporting a rise in FY net income and confirming 2026 guidance.
BASF is up 3%. Symrise, Brenntag and Rheinmetall are up 2.5%, 2% and 1.75%, respectively. Gea Group is gaining about 1.65%.
Automaker BMW fell sharply in early trades, but recovered and pared most of its losses, and was down just 0.3% a little while ago. The stock fell after reporting a 3% drop in full-year net profit.
Deutsche Bank is down 3.7%. Commerzbank is declining by about 2.1%. Continental, Beiersdorf, Siemens, Bayer and Porsche Automobil Holding are down 1%-2%.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
