18.06.202607:41:12UTC+00DAX Extends Rally

The DAX 40 inched higher on Thursday, briefly crossing the 25,000 mark for the first time since early June and extending its winning streak to a sixth consecutive session. Optimism over progress toward ending the conflict with Iran outweighed concerns about the US Federal Reserve’s hawkish messaging.

The United States and Iran signed an interim peace accord extending by another 60 days the ceasefire first announced in April, providing additional time to negotiate a permanent settlement. A key element of the deal is the full restoration of shipping through the Strait of Hormuz without any extra surcharges, a development that triggered a renewed pullback in oil prices.

The Federal Reserve, meanwhile, left its benchmark interest rate unchanged. However, newly appointed Fed Chair Kevin Warsh indicated that policymakers could consider a rate increase if inflationary pressures fail to ease.

Technology names and energy-sensitive industrials led the advance on the DAX. Infineon Technologies was the top performer, gaining more than 4%, followed by Airbus (+2.6%), Siemens Energy (+2.2%), Siemens (+1.4%) and Rheinmetall (+0.9%).