DAX Up Marginally In Cautious Trade

(RTTNews) - German stocks turned in a mixed performance Wednesday morning as investors stayed cautious ahead of an earnings update from Nvidia. Easing concerns about inflation as oil prices dropped amid renewed hopes for the reopening of the Strait of Hormuz aided sentiment.

Brent crude futures dropped to $84.56 a barrel, losing about 3%, on reports that Oman and Iran had discussed establishing a temporary joint maritime corridor in the Strait of Hormuz.

The benchmark DAX was up 36.00 points or 0.14% at 26,321.06 a few minutes before noon.

Deutsche Bank jumped nearly 4%. Heidelberg Materials, Commerzbank and Qiagen gained 2.7%-3%.

Symrise, MTU Aero Engines, E.ON, Bayer, Beiersdorf, Hochtief, Siemens and Fresenius Medical Care advanced 1%-1.8%.

SAP dropped about 4%. Scout24 drifted lower by 1.4%. Volkswagen, Zalando, Deutsche Boerse and Siemens Healthineers slipped 0.5%-0.9%.