Germany's DAX index rebounded on Thursday, closing about 0.9% higher at 25,118 after two sessions of sharp losses. Tech stocks led the recovery, while a takeover rumor sent Qiagen soaring more than 10%.
The DAX 40 closed about 0.9% firmer at 25,118 on Thursday, reversing the sharp losses of the prior two sessions. The benchmark rose 221 points, or 0.89%, to end the day at 25,118 points.
Technology shares drove the rebound, buoyed by the possibility of China opening up to Nvidia chips and the successful US IPO of SK Hynix shares. Infineon Technologies gained over 4%, and AI infrastructure names advanced with it, as Siemens Energy rose 3.3% and Hochtief 2.7%.
The day's standout was Qiagen. Its shares surged over 10% on renewed takeover rumors. Bloomberg reported that the molecular testing company is attracting preliminary takeover interest from private equity firms, including EQT AB and Advent.
Not every name joined the advance. Rheinmetall lagged, falling 4.1%, and Volkswagen shares fell 1.1% ahead of a supervisory board meeting expected to outline deep cost-cutting measures, including up to 100,000 job cuts and factory closures. Meanwhile, investors stayed watchful for developments in the Middle East amid ongoing US-Iran tensions.
Sources: TradingView, TradingView
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