BRUSSELS (dpa-AFX) - After an initial upmove, the German stock market's benchmark index DAX slipped into negative territory Friday morning as exchange of hostilities between Iran and the U.S., and concerns about AI valuations hurt investor sentiment.
The DAX, which advanced to 25,197.25, dropped to 25,055.82 and was at 25,091.09 a little while ago, down 13.03 points or 0.05% from previous close.
Infineon Technologies shed about 2.5%. Rheinmetall drifted down 2.3%, while Siemens Energy and Bayer declined 1.9% and 1.7%, respectively.
Volkswagen, Siemens, Deutsche Boerse, Adidas, Hochtief, Qiagen and Scout24 lost 0.4%-1%.
Deutsche Telekom moved up 2.5% following a rating upgrade from JP Morgan. Heidelberg Materials gained nearly 2%.
Merck, Vonovia, Beiersdorf, Deutsche Bank, Fresenius, Brenntag, Commerzbank, Munich RE and Continental climbed 0.7%-1.3%.
On the economic front, final data from Destatis showed Germany's inflation slowed to a four-month low in June, as initially estimated.
Consumer price inflation came in at 2.3% in June, slower than May's 2.6%. This was the lowest rate since February and matched the estimate published on June 30.
Similarly, EU harmonized inflation weakened to 2.4%, in line with estimate, from 2.7% a month ago.
Core inflation that excludes prices of food and energy held steady at 2.5% in June.
On a monthly basis, consumer prices dropped 0.3% in June after falling 0.2% in May. The harmonized index of consumer prices slid 0.2% following a 0.1% fall. Both rates came in line with estimates.
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