On Wednesday, U.S. President Donald Trump stated that negotiations between U.S. and Iranian representatives in Pakistan could resume within the next two days. According to insiders, Iran is considering a partial reopening of the Strait of Hormuz, marking the first time the Islamic Republic has backed down from its maximalist demands. Previously, the government in Tehran sought to levy transit fees for the international waterway and claimed sovereignty over the strait. Iran has been blocking traffic through the passage, which accounts for approximately 20 percent of global oil and liquefied natural gas exports. On Monday, the U.S. also imposed a blockade on oil tankers leaving Iranian ports. A two-week ceasefire between the U.S. and Iran has been in effect since April 8.
Among the top gainers on the Dax in early trading were BASF and SAP, each rising by around 0.7 percent. In the SDax, Gerresheimer shares surged, gaining up to 19.1 percent. The embattled packaging group has been granted more time by its banks and promissory note creditors to resolve its accounting issues. Conversely, shares of Heidelberger Druck tumbled by more than nine percent in the small-cap index after the printing press manufacturer missed its earnings target for the 2025/26 fiscal year.
(Reported by Daniela Pegna, edited by Myria Mildenberger. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for corporate and markets).)
