FX.co ★ DAX Trims Gains

Frankfurt's DAX 40 trimmed earlier gains to hover around 24,300 on Wednesday, as uncertainty over the Middle East conflict lingered despite US President Donald Trump announcing an extension of the ceasefire with Iran to allow time for a comprehensive agreement. At the same time, he confirmed that the US would maintain its naval blockade of Iranian trade flows, a move Tehran considers an act of war. An Iranian adviser described the ceasefire extension as a pretext for a surprise attack, while reports indicated renewed incidents in the Strait of Hormuz.

Technology stocks continued to lead the market. Infineon climbed 3.2% and Siemens advanced 1.5%, buoyed by strong first-quarter results from ABB and gains in chipmaker ASM. On the downside, Deutsche Telekom fell 3.1%, to the bottom of the index, following reports that it is considering a full merger with its US mobile subsidiary, T-Mobile US.