12.02.202617:18:22UTC+00DAX Finishes Almost Muted

Frankfurt’s DAX 40 lost steam on Friday, ending almost unchanged at 24,853 and reflecting the cautious mood across European and US markets. Investors once again focused on AI-related risks and scaled back expectations for imminent Fed rate cuts ahead of Friday’s CPI release. At the same time, markets remained driven by earnings reports and corporate news.

Cement and utility stocks weighed on the index, with Heidelberg (-9.9%) and RWE (-4.1%) under pressure after German, Italian, and other EU leaders called for reforms to the bloc’s emissions trading system. AI-oriented names such as Scout24 (-5.8%) also posted steep losses.

On the positive side, Deutsche Telekom was the session’s standout performer, jumping 5.9% after its US subsidiary T-Mobile US reported strong 2025 results. Deutsche Börse climbed 2.4% as it announced plans to acquire General Atlantic’s remaining 20% stake in ISS STOXX for €1.1 billion, following a record year in 2025. Siemens added 1.1% after exceeding Q1 profit forecasts.