(RTTNews) - German stocks are turning in a mixed performance Wednesday morning as investors continue to assess the situation in the Middle East, after U.S. President Donald Trump announced his decision to extend ceasefire amid renewed conflict in the Strait of Hormuz.
Trump said that he would extend the ceasefire with Iran indefinitely until Tehran submits a comprehensive proposal and negotiations are concluded.
The benchmark DAX was up 3.40 points at 24,298.41 a little while ago. The index touched a high of 24,215.62 and a low or 24,392.44.
Brenntag climbed 3.15%. Infineon Technologies moved up nearly 3%, while BASF, Bayer and RWE gained 1.6%-2%.
Siemens advanced 1.3% and Hannover RE gained 1.1%. Siemens Energy, E.ON, Henkel, Munich RE, Vonovia and Beiersdorf posted moderate gains.
Deutsche Telekom dropped more than 3% after the company said its considering a full combination with its U.S. arm T-Mobile US Inc.
Commerzbank and MTU Aero Engines drifted down 2.7% and 2.3%, respectively. Adidas, Qiagen and Zalando lost 1.6%, 1.4% and 1.3%, respectively.
Siemens Healthineers, Deutsche Bank, Merck, Gea Group, BMW, Fresenius Medical Care and Allianz also drifted lower.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
