Overview
- The DAX rebounded 0.4% to 24,403 at the open, with the EuroStoxx 50 up about 0.3%, after the prior day’s sharp slide left weekly performance still in the red.
- Confidence improved on a U.S. budget agreement and signals of U.S. willingness to talk with Iran, though Helaba cautioned that geopolitical risk could quickly re‑intensify.
- Microsoft’s roughly 10% drop after disappointing quarterly results and SAP’s 16% plunge on cloud weakness weighed on tech, prompting target cuts from JPMorgan, Bank of America and UBS even as SAP shares attempted an early rebound.
- Gold and silver extended their declines as the dollar firmed and concern over a disruptive Fed succession eased on expectations of a more moderate candidate.
- Oil retreated from Thursday’s spike, with Brent slipping back below $70 after touching $71.89, yet prices remain about 6% higher than a week earlier.