Overview

• The DAX slipped about 0.8% to roughly 24,100 points and has repeatedly failed to breach the 24,500 resistance level.
• President Trump’s threat to impose 30% tariffs on EU imports after the August 1 deadline is amplifying fears for export-dependent German exporters.
• Puma projected a full-year revenue drop of at least 10% and an operating loss, while Volkswagen warned of significantly lower profits due to potential US tariffs and soft Porsche and Audi performance.
• Brent crude prices rose above $69 per barrel on hopes for a US-EU trade deal and reports of Russian export restrictions, adding to market volatility.
• Falling odds of an ECB rate cut in September are weighing on investor sentiment ahead of upcoming European economic data.