DAX Moves In Tight Range; Earnings, Fed Policy Announcement In Focus

(RTTNews) - German stocks are turning in a mixed performance on Wednesday with investors mostly reacting to corporate earnings announcements and awaiting the Federal Reserve's interest rate decision due later in the day. The European Central Bank is scheduled to announce its monetary policy on Thursday.

Investors are also looking ahead to the meeting of U.S. President Donald Trump and Chinese President Xi Jinping, scheduled to take place tomorrow.

The benchmark DAX was down 3.19 points or 0.01% at 24,280.39 a little while ago.

Mercedes-Benz Group shares are up 5.3%. Mercedes-Benz Group's net profit dropped to 1.19 billion euros in the third quarter, down 30.8 from last year's 1.72 billion euros. Looking ahead, for fiscal 2025, the company continues to expect Group EBIT significantly below last year's 13.6 billion euros, and revenues significantly below last year's 145.6 billion euros.

BASF is gaining nearly 4% after the company announced a €1.5 billion share buyback and reported stronger-than-expected third-quarter earnings, helped by government grants and gains in its Surface Technologies division.

BMW is up 2.3%, Volkswagen, Porsche Automobil Holding, Commerzbank and Siemens Energy are gaining 1 to 1.35%.

Deutsche Bank is up marginally. The lender reported a net profit of 1.56 billion euros for the third quarter of its current fiscal year, up 7% compared to 1.46 billion euros in the year-ago quarter. Looking ahead, for fiscal 2025, the bank continues to expect revenues of around 32 billion euros.

Adidas is down by a little over 1%. The company has reported a marginal increase in third-quarter net income at 485 million euros, compared to 476 million euros, a year ago. Earlier this month, the company upgraded full-year financial guidance, saying it expects around 9% increase in revenue.

SAP is down 1.7%. MTU Aero Engines is declining by 1.6% and GEA Group is down by about 1%. Symrise, Rheinmetall, Allianz, Beiersdorf, Vonovia and Munich RE are down 0.5 to 0.7%.