30.04.202607:43:59UTC+00DAX Extends Losses

Frankfurt’s DAX 40 slipped 0.7% on Thursday to fall below 23,800, its lowest level since mid-April and its ninth consecutive session of declines. Investors weighed fresh developments in the Middle East conflict and a busy slate of corporate earnings and economic data, while also positioning ahead of the ECB’s policy decision later in the day.

Oil prices rose after reports that the US was considering further military action against Iran, stoking fears of an escalation in regional tensions and more persistent disruptions to supply. The prospect of higher energy costs put particular pressure on banks, other financials, energy-sensitive industrials, and consumer cyclicals.

In corporate news, BASF slipped 0.5% after reporting weaker first-quarter profits, while Volkswagen declined 0.3% following a Q1 profit miss versus expectations. Porsche AG fell 0.5% after posting lower revenue, though it reaffirmed its full-year outlook. By contrast, MTU Aero Engines gained after releasing first-quarter results that beat analysts’ forecasts.