FX.co ★ DAX 40 Climbs to Record High

The DAX 40 jumped more than 1.5% to a new record high above 26,000 points in the first trading session of August, buoyed by a sharp drop in oil prices that lifted investor sentiment. Crude prices retreated after Iran signaled progress in negotiations to restore shipping through the Strait of Hormuz, following US President Donald Trump’s decision to cancel what he described as a major planned strike on the country. Equities were further supported by broadly strong corporate earnings and a continuing rebound in global AI-related technology stocks. Siemens Healthineers rallied more than 6% after raising its full-year earnings-per-share guidance and reporting a solid order backlog alongside its quarterly results. Deutsche Telekom rose 5% ahead of its earnings release later in the week, while E.ON added about 2% after Jefferies upgraded the stock to “Buy” and sharply lifted its price target.