30.04.202612:00:01UTC+00DAX Turns Positive

Frankfurt's DAX 40 reversed early losses to trade 0.7% higher on Thursday afternoon, attempting to break an eight-day losing streak as oil prices eased from multi-year highs. Investors continued to track developments in the Middle East, a series of corporate earnings releases, fresh economic data, and key central bank decisions. On the macro front, Germany’s economic performance in Q1 surprised to the upside, although underlying conditions remained fragile.

Deutsche Post led the index, jumping nearly 6% after posting a solid first-quarter performance. MTU Aero Engines advanced 2.1% after reporting an operating profit for the quarter that exceeded expectations. Brenntag climbed 3.5% after UBS lifted its price target from 42 to 60 euros and upgraded its stance from “sell” to “neutral.” Meanwhile, Volkswagen and Porsche AG pared earlier losses and moved into positive territory, up 1.5% and 0.9%, respectively, despite results that fell short of forecasts. BASF also edged higher, rebounding slightly in spite of weaker first-quarter profits.