FX.co ★ DAX Rises to Over 1-Month Highs

Frankfurt’s DAX 40 rose 0.6% on Wednesday, moving above the 25,100 mark and trading near its highest level since mid-January, with defense stocks providing the main support. Renk advanced 3% and Rheinmetall added 1.7% following reports that Berlin is considering taking a minority stake in KNDS, the Franco-German manufacturer of Leopard tanks, as the group seeks to maintain its influence ahead of a planned €20 billion ($23.7 billion) listing later this year.

Geopolitical developments also remained in focus, with talks between the US and Iran continuing in Geneva. At the same time, global markets appeared to be stabilizing after recent volatility linked to developments in artificial intelligence.

On the downside, Bayer fell 7.5%, placing it at the bottom of the index, after its Monsanto unit proposed paying $7.25 billion to settle lawsuits alleging that its Roundup weed killer causes cancer.