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2026.07.2408:22:50UTC+00DAX Rebounds as SAP Surges

Frankfurt's DAX 40 climbed 0.6% to around 24,900 on Friday, rebounding from a near one-month low as investors weighed strong corporate earnings and upbeat PMI data against escalating Middle East tensions and new US tariffs.

SAP jumped 6% after posting better-than-expected quarterly revenue, supported by strong cloud backlog growth and solid demand for its AI platform. Atoss Software added 5% on the back of robust cloud-driven earnings.

By contrast, Adidas slipped 3% after disappointing investors ahead of next week’s earnings report. Automakers also lagged the broader market, with Volkswagen down 1% following weaker second-quarter results and a cut to its revenue outlook. Porsche, BMW, and Mercedes-Benz traded lower as well.

In commodities, Brent crude hovered near $100 per barrel as the US continued its military campaign against Iran and the Strait of Hormuz remained closed. At the same time, Washington imposed new tariffs on imports from 60 trading partners, including the EU.

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