DAX treads water near 25,260 – chip stocks weak, Symrise leads

Data as of: Xetra closing prices Tuesday, 13 October 2026; outlook for Wednesday, 14 October, as of about 07:25 CEST (Xetra trading starts at 9:00)

The DAX benchmark index (Germany's 40 largest listed companies) ended Tuesday 0.07% lower at 25,259.90 points on Xetra. It briefly rose above 25,400 during the session but could not hold the gains. The MDAX (mid-caps) lost 0.28% to 30,020.49 points and the TecDAX 0.17% to 3,986.30. The SDAX (smaller companies) closed marginally higher at 18,058.14 (+0.05%). The Euro Stoxx 50 fell 0.55% to 6,167.01. According to dpa-AFX, neither a softer oil price nor falling bond yields drew investors out of their reserve; one trader described the market as caught "between caution and optimism".

Symrise was the best DAX stock, up 3.1%, after Swiss rival Givaudan reported surprisingly strong figures. Chip stocks, by contrast, suffered from a newspaper report on major technical progress at Chinese memory-chip maker CXMT. Infineon lost 2.1%, Elmos Semiconductor in the MDAX 6.3% and ASML in Amsterdam more than 4%. Siemens Energy was the worst DAX performer (−2.5%). Schaeffler fell 1.7% after weak results, and Vossloh in the SDAX dropped 6.4% after a sceptical note from Oddo BHF. The first US bank results were mixed: Goldman Sachs beat expectations, JPMorgan fell short.

On Tuesday the Federal Statistical Office confirmed September inflation: consumer prices were 3.3% higher than a year earlier, the highest rate since December 2023. Energy was the main driver (+14.9%), especially motor fuel (+37.1%) and heating oil (+74.9%). Excluding food and energy, inflation was 2.4%. The European Central Bank set the euro reference rate at 1.1188 dollars (Monday: 1.1181).

For Wednesday, broker IG expects a slightly firmer start: according to dpa-AFX (report at 07:15 CEST), IG indicated the DAX 0.33% higher at 25,343 points. Tech stocks recovered in Asia. ASML reported record third-quarter sales of 11.7 billion euros and net income of 5.0 billion euros this morning; the company says demand for 2027 and 2028 exceeds its planned supply. The focus is on US September inflation at 14:30 (forecast 3.6% after 3.4%). BlackRock, Bank of America and Morgan Stanley also report, and the US Federal Reserve publishes its Beige Book on the economy at 20:00.