29.04.202609:50:16UTC+00DAX Turns Negative

Frankfurt’s DAX 40 surrendered early gains on Wednesday, slipping slightly below the 24,000 mark and extending its losing streak to an eighth consecutive session. Sentiment remained fragile as persistently elevated oil prices, compounded by stalled negotiations between Iran and the US, continued to weigh on markets. At the same time, investors digested a flurry of corporate earnings while positioning ahead of major central bank decisions, with the Federal Reserve due later today and the ECB following tomorrow.

Deutsche Bank dropped more than 2% after its latest results disappointed investors. Reinsurers Hannover Rück and Münchener Rück also ranked among the worst performers, losing 3% and 2.7%, respectively. On the upside, Adidas jumped around 7% after posting a first-quarter profit that beat expectations. Scout24 gained 5% after releasing first-quarter revenue that came in just shy of forecasts but was accompanied by stronger organic growth and an enlarged share buyback program. Mercedes-Benz Group added 0.3% after delivering a more upbeat full-year outlook and reporting a smaller-than-anticipated decline in profit.