BRUSSELS (dpa-AFX) - After opening slightly up and edging lower subsequently, Germany's equity benchmark DAX climbed up Thursday morning before paring gains as stocks faced resistance at higher levels.
Lower bond yields and somewhat subdued oil market supported the early upmove, although persisting worries about Middle East tensions hurt sentiment.
The yield on German 30-year government bond dropped to 3.816% this morning.
The DAX was down 10.74 or 0.04% at 25,832.60 a few minutes before noon.
Deutsche Telekom and SAP moved up 2.2% and 2.1%, respectively. Heidelberg Materials climbed 1.5%, while Commerzbank, Siemens Energy, Deutsche Bank, Continental and Beiersdorf gained 0.6%-1%.
Munich RE, Vonovia, Hannover RE, Deutsche Boerse and Fresenius also posted gains.
Rheinmetall tumbled 2.7%, while Fresenius Medical Care, MTU Aero Engines, Adidas, RWE, E.ON and Hochtief shed 1%-1.6%.
In economic news, the S&P Global Germany Composite PMI was revised up to 51.8 in August 2026, from the preliminary estimate of 51.0 and compared with 51.3 in July. The manufacturing PMI rose to a 2022 high of 54.2, up from 52.2 in the previous month. The services sector remained in slight contraction, with its PMI edging down to 49.7 from 49.8.
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