Germany's DAX Index Closes Higher; Zalando Tumbles

MT Newswires · 1d ago
11:52 AM EDT, 08/04/2026 (MT Newswires) -- Germany's blue-chip DAX index remained in the green on Tuesday, closing 0.77% higher, as markets digested a fresh batch of corporate earnings reports and updates amid a quiet day of local economic news. Bayer's (BAYN.F) net income, including discontinued operations, amounted to 219 million euros in the second quarter, swinging from a year-ago loss of 199 million euros, while sales over the period increased to 10.87 billion euros from 10.74 billion euros. The German life sciences company's shares added 2.40% at the end of the trading day. "While we've delivered strong strategic and financial progress, including meaningful steps on our balance sheet, important opportunities remain ahead of us. Bayer benefits from a powerful innovation engine and growth prospects across all three businesses. Our financial priorities are clear: to further strengthen the balance sheet, enhance productivity and improve cash generation, while continuing to invest behind growth and creating sustainable value," according to Chief Financial Officer Judith Hartmann. Meanwhile, Zalando (ZAL.F) saw a year-over-year jump in second-quarter revenue to 3.42 billion euros from 2.84 billion euros, while gross merchandise volume was up 20.7% to 4.92 billion euros. For full-year 2026, the online fashion retailer now expects revenue and gross merchandise volume growth to be in the lower half of its previous 12% to 17% guidance, on a reported basis. "Zalando reported Q2-26 results this morning with slightly soft results (-1% GMV miss;-2% sales miss; -2% AEBIT miss). B2C GMV was softer at +4.4% pro-forma YoY growth (decelerating QoQ, despite an easing comp) whilst B2B continues to grow well on topline and margins. Guidance narrowed on AEBIT and pushed to lower end on topline growth but both of these were expected. Net net, we think this is slightly disappointing today," Bernstein analysts said in a quick take note. The stock dropped 13.36% at closing. Elsewhere and on the geopolitical front, Treasury Secretary Scott Bessent told CNBC that the US could reach a deal with Iran "today or tomorrow" to open the Strait of Hormuz. When asked if Iran could charge a toll, Bessent replied that the deal would allow "freedom of movement."