13.11.202516:54:22UTC+00DAX Snaps 3-Day Rally

Germany's DAX index declined by approximately 1.4%, closing at 24,043 on Thursday, as investors took profits following a three-day surge. This downturn coincided with the official conclusion of the US government shutdown, which has extended funding until January. Despite this resolution, there was a cautious sentiment in the markets due to looming significant economic data releases. Investors were also processing a varied set of corporate earnings. Siemens experienced a significant drop, over 9%, leading the day's losses, after reporting a decline in fourth-quarter earnings, even though it raised its medium-term sales growth projection. This decline negatively impacted other companies within the conglomerate, including Siemens Energy, which fell by 5.4%, and Siemens Healthineers, which decreased by 3.4%. Conversely, Merck saw a notable increase of approximately 5%, driven by stronger-than-anticipated third-quarter results.