DAX follows decline in European stock indices

On Thursday, DAX fell 0.9% to the 17460 level, following the decline of its European peers. The market has been unable to maintain its recovery from recent oversales, and traders are continuing to assess the economic and financial outlook.

Investors also digested earnings reports from major companies.

Although Siemens recorded an increase in profit that exceeded expectations, the stock price fell by about 0.9% due to a decrease in order acceptance.

Meanwhile, since Deutsche Telekom's stock price announced an increase in profit and an increase in free cash flow guidance, it rose by about 1.3% to 24.45 euros, which is the first high in 23 years.

The financial results of Allianz (+0.6%) also exceeded expectations, and insurance companies raised the volume of their share repurchase programs.

Rheinmetall maintained full-year guidance and rose 1.2%.

Meanwhile, the Munich RE stated that there is a possibility that it will exceed guidance, but the stock price fell 0.6%.