FX.co ★ DAX Ends Slightly Higher

Germany's DAX index, in line with other European markets, managed to recover early losses, closing marginally higher at 24,208 on Thursday. Investors are currently weighing new quarterly corporate reports. Concurrently, geopolitical issues came to the forefront, with the United States imposing sanctions on Russia's leading oil producers, and the European Union announcing a new sanctions package targeting Moscow. On the earnings front, SAP, a prominent German software company, saw its stock increase by 2.2% after reporting higher third-quarter revenue and operating profit, projecting a full-year operating profit at the higher end of its prior forecast. Although cloud revenue was slightly below expectations, SAP reiterated the cloud's crucial role in its long-term growth strategy. Meanwhile, skincare leader Beiersdorf experienced a modest gain of 0.3%, despite downgrading its full-year sales forecast for the second time following underwhelming third-quarter results. The company, however, maintained its EBIT margin guidance.