BRUSSELS (dpa-AFX) - German stocks climbed higher on Wednesday amid renewed hopes of a U.S.-Iran peace deal, and a sharp fall in crude oil prices.
Hopes about a U.S.-Iran deal rose after U.S. President Donald Trump said the two countries were 'in negotiations right now' and 'want to make a deal so badly.'
The U.S. has reportedly proposed a 15-point peace plan to Tehran after a possible one-month ceasefire. Although Tehran has dismissed Trump's claim of talks, several media reports suggest that efforts towards a diplomatic solution have intensified.
The benchmark DAX, which climbed to 23,075.72 earlier in the session, was up 337.33 points or 1.49% at 22,977.22 nearly half an hour before noon.
Infineon Technologies climbed 4.2%. Siemens Energy moved up nearly 4% and Commerzbank gained 3.3%, while Vonovia advanced by 3%.
Siemens, Adidas, MTU Aero Engines, Merck, RWE, Symrise, Deutsche Bank, Scout24, BASF, Heidelberg Materials and GEA Group gained 2%-2.6%. Bayer, Continental, Volkswagen, BMW and Deutsche Post also posted strong gains.
Lufthansa gained about 4.5% in anticipation of a de-escalation of the Middle East war.
In economic news, a report from the Ifo Institute said Germany's Ifo Business Climate Index dropped to 86.4 in March 2026, the weakest reading since February 2025, as the escalating Middle East conflict dampens economic sentiment. The index was expected to come in at 86.1, after a revised 88.4 reading in February.
Ifo Current Conditions index in Germany remained unchanged at 86.70 points in March, the same as in February and compared to forecasts of 86.
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