FX.co ★ DAX Slips Into Red On Earnings; Siemens Falls Over 4%

German stocks edged lower on Thursday, following notable gains the previous day driven by expectations of potential interest rate cuts by the Federal Reserve later this year.

The benchmark DAX index fell by 34 points, or 0.2%, to 18,835, after rising by 0.8% on the previous day.

Among automakers, BMW increased by 0.6% while Daimler Truck saw a rise of 2%.

Siemens declined by 4.2% after reporting a drop in its second-quarter earnings within its industrial business.

Freenet shares fell by 2.6% following a decrease in its first-quarter Group EBITDA, which dropped to 124.2 million euros from 128.1 million euros in the same period last year.

Deutsche Telekom experienced a dip of 0.5%. The major telecom company revealed that its first-quarter net profit plummeted by 87.1%, falling to 1.98 billion euros from 15.36 billion euros in the previous year.