German Stocks Mixed As Earnings, Geopolitics Weigh

(RTTNews) - German stocks swung between gains and losses on Thursday with investors reacting to a slew of earnings announcements and assessing the potential impact of the ongoing U.S.-Iran conflict on global economic growth.

Investors also digested the Federal Reserve's decision to hold interest rates. There is some uncertainty about future policy as three FOMC members reportedly dissented in favor of a rate hike.

The United States carried out fresh strikes on Iran on Wednesday, further intensifying a five-month-old war that is spreading beyond its main fronts to embroil more countries across the region. The latest escalation came after a drone struck a U.S.-owned gas storage tanker at Egypt's Mediterranean port of Damietta and Iran fired missiles targeting U.S troops in Jordan.

The benchmark DAX, which climbed to 25,511.53 from an early low of 25,295.00, was down 8.67 or 0.03% at 25,457.43 nearly half an hour past noon.

Symrise climbed more than 5%. Infineon Technologies and MTU Aero Engines moved up 3% and 2.8%, respectively. Siemens moved up 2.3%.

Brenntag, Continental, Hochtief, Fresenius Medical Care, E.ON and Mercedes-Benz gained 1%-1.8%.

BMW advanced 1.5% after reporting a slightly better-than-expected profit margin from its automotive business in the second quarter.

Adidas tanked 17.5% after higher marketing spending for the football World Cup resulted in lower-than-expected quarterly profit.

Rheinmetall dropped by about 2.3%. Airbus, Qiagen, Deutsche Bank, Zalando, Scout24, Deutsche Telekom and Siemens Healthineers lost 1%-2%.