Frankfurt’s DAX 40 pared early gains to close almost flat at 23,804 on Friday, following yesterday’s decline, as investors eyed weekend talks between the US and Iran following a two-week ceasefire agreement. US and Iranian delegations are set to meet in Pakistan on Saturday, while Israel has agreed to hold talks with Lebanon’s government, raising hopes of de-escalation in the region. At the same time, Bloomberg reported that Ukraine and Russia are moving toward a potential deal to end the war, citing a senior aide to President Volodymyr Zelenskiy. Among single stocks, Heidelberg Materials led the way, rising 3.7%, followed by BASF (2.2%); BMW (1.8%), Siemens (1.7%) and Siemens Healthineers (1.7%). On the flip side, Rheinmetall (-5.9%) emerged as the biggest laggard amid hopes for resolution to major global conflicts. For the week, the index advanced by 2.7%.
