Investors on the German stock market today defied rising oil prices. They hope for further talks between Washington and Tehran. US President Donald Trump said he expected this to happen in the next few days.
The DAX was able to stay positive for most of the time, but then closed 0.1 percent lower at 25,374 points. Last Friday, the leading German index ended trading with a premium of 0.6 percent. In doing so, he stopped a three-week losing streak.
On Saturday, Trump rejected an Iranian proposal to open the Strait of Hormuz. The price of North Sea Brent oil then climbed back above the $100 mark.
The American markets then opened cautiously. The Dow Jones initially lost 0.3 percent, the technology stocks on the Nasdaq lost half a percent.
"We're in a one-factor world right now where oil prices influence interest rates and interest rates are the main driver for all asset classes," said Mohit Kumar, an economist at Jefferies.
Nvidia shares bucked the trend. The chipmaker has announced a $150 billion increase to its stock buyback program - the largest ever and surpassing even Apple's in 2024. The booming market for artificial intelligence (AI) is pouring money into the company's coffers. The high inflow of funds enables both investments and a return of capital to shareholders.
SpaceX shares also rose in early US trading after its Starship rocket reached Earth orbit for the first time despite an engine problem, according to the company. The unmanned rocket is intended to deploy the first series of new Starlink satellites. Reaching orbit is a long-awaited milestone for the Starship program. SpaceX founder Elon Musk originally predicted this goal for 2022.
The system has so far taken almost a decade to develop and cost more than $15 billion. In the future, Starship will be used to launch Starlink satellites more frequently and, on behalf of the US space agency NASA, missions to the moon.
BASF shares continued to fall. The German industry leader has set its sights on its smaller competitor Evonik. Experts believe the takeover could be the start of a reshaping of the European chemicals industry.
The specialty chemicals company has apparently rejected the larger competitor's offer as too low. BASF is said to have discussed around 22.15 euros per Evonik share.
Südzucker's shareholders were able to enjoy a price jump of up to eight percent. After a significant increase in profits in the past quarter, the SDAX-listed sugar manufacturer has increased its annual forecasts. This is also due to the high ethanol prices, from which the Group subsidiary CropEnergies benefits.
Redcare Pharmacy was also in demand in the SDAX. Thanks to the e-prescription boom in Germany, the online pharmacy's sales are now expected to increase by 16 to 18 percent in 2026. That is one percentage point more than before. The drivers are sales of prescription drugs, which are expected to reach 730 to 760 million euros in Germany this year.
There was also positive news from the German start-up scene: the start-up boom continues unabated, despite the poor economy. The Start-up Monitor of the German Start-up Association said that more than 3,000 start-ups have been added since the beginning of the year. There are more than ever before - some of them may one day be traded on the stock exchange. The number of German start-ups valued at more than one billion euros reached a record 39.
The start-up sector benefits from increasing investments in defense companies. Another growth driver is AI. For 53 percent of the start-ups surveyed, technology is at the heart of the product. In 2024 it was only 39 percent. At the same time, AI makes starting a business much easier.
