21.08.202516:23:03UTC+00DAX Ends Marginally Higher

On Thursday, the DAX index in Frankfurt managed to recover from early declines, closing slightly higher at 24,293. Investors considered the implications of promising PMI surveys and favorable progress in US-EU trade relations, despite the persistent uncertainties surrounding peace negotiations in Ukraine. Preliminary August PMI figures highlighted the robustness of key European economies amidst US tariffs and global challenges, showing a slight uptick in Germany's private sector activity compared to the previous month, driven by stronger-than-anticipated manufacturing performance. On the trade front, Brussels and Washington issued a long-awaited joint statement today, formalizing their trade agreement made nearly a month earlier. This agreement affirms that cars, semiconductors, and pharmaceuticals will encounter a maximum of 15% tariffs when entering the US. Market participants now eagerly await the speech from the Federal Reserve Chairman, scheduled for Friday at the Jackson Hole symposium. Leading the day’s gainers were Rheinmetall, up by 3.3%, Commerzbank with a 2.9% increase, Siemens Energy rising by 1.4%, and Airbus gaining 1.2%. Conversely, Sartorius lagged behind, dipping by nearly 3%.