06.08.202516:11:42UTC+00DAX Sees 3rd Day of Gains

Frankfurt's DAX index edged up by 0.3% to close at 23,924 on Wednesday, marking its third consecutive day of gains. This performance came as investors evaluated corporate earnings reports alongside anticipated U.S. tariffs. President Trump is poised to implement widespread tariffs on August 7 against nations lacking trade agreements with the U.S. Although the European Union and the United States are working towards finalizing an agreement, a 15% tariff on EU goods is set to take effect tomorrow. Trump has further indicated a possible escalation to a 35% tariff if anticipated European investments do not materialize. Additionally, he has reaffirmed his intention to introduce tariffs on drug imports "within the next week or so." In terms of corporate performance, Vonovia led the gains with a 3.5% increase, following an 11% earnings growth report and an upgraded 2025 outlook. Siemens Energy saw a 1% rise after posting a €697 million profit for the third quarter, bouncing back from a €102 million loss, and confirmed its upgraded projections. On the downside, Bayer experienced nearly a 10% drop due to weak sales in soybean seeds and pesticides, while Beiersdorf declined by over 8% following lower-than-expected growth figures.