DAX Rises As Focus Remains On Earnings

(RTTNews) - The German stock market gained notable ground in positive territory on Friday with investors mostly reacting to earnings updates and tracking oil prices movements amid the ongoing conflict in the Middle East.

Investors also look ahead to the crucial U.S. non-farm payroll data later in the day for clues on the Fed's interest rate moves.

Brent crude futures surged toward $83 a barrel, building on the previous session's gains amid doubts over ongoing efforts to fully reopen the Strait of Hormuz, a vital shipping route for global energy supplies.

The benchmark DAX was up 168.05 or 0.64% at 26,333.28 about a quarter past noon.

Scout24 gained more than 5%, rebounding sharply from recent sharp decline. SAP gained 3.75% and Infineon Technologies moved up 3%. Qiagen, Commerzbank and Siemens gained 2%-2.7%.

Deutsche Boerse, Siemens Healthineers, Vonvia, Airbus, Siemens Energy, Deutsche Bank, Fresenius, BMW and Hochtief also moved higher.

Daimler Truck Holding dropped by about 4.2%. Daimler Truck Holding's bottom line came in at EUR1.457 billion, or EUR1.91 per share. This compares with EUR277 million, or EUR0.36 per share, last year.

Munich RE lost 2.7% despite reporting higher quarterly earnings. The reinsurer reported that it posted a net profit of €2.211 billion in the second-quarter, up from €2.085 billion a year earlier. The company maintained its full-year 2026 profit guidance but lowered its insurance revenue outlook.

Beiersdorf and Deutche Telekom lost 1.7% and 1.1%, respectively. RWE, Zalando, E.ON and Deutsche Post drifted moderately lower.

Allianz declined marginally after reporting a drop in earnings. The company announced that its second-quarter bottomline came in at EUR 2.595 billion, or EUR6.46 per share, compared with EUR2.841 billion, or EUR7.03 per share, last year.

Rheinmetall eased by about 0.4%. The company reported that its second quarter earnings after taxes were 167 million euros, compared to 157 million euros in the prior-year period. Earnings per share was 2.66 euros versus 2.82 euros.

In economic news, Germany's industrial production expanded in June, albeit at a slower pace, data from Destatis revealed. Industrial production logged a monthly growth of 0.2%, following May's revised 0.7% increase. Output was expected to remain flat in June.

A separate data from Destatis showed Germany's trade surplus narrowed to €15.4 billion in June from an upwardly revised €19.3 billion in May, below estimates of €17.4 billion, as imports rose more than exports. Imports rose 4.4% m-o-m to an over 3-1/2-year high of €123.9 billion in June, while exports grew by 0.9% m-o-m to a nearly four-year high of €139.3 billion in June, following an upwardly revised 1.1% gain in May.