German DAX holds steady amid record earnings and job cuts

Germany's DAX stock index held steady near 26,153 points as corporate results highlighted a growing divide between earnings growth and domestic workforce reductions. An analysis by EY showed that the 40 DAX companies produced €52.6 billion in operating profit during the second quarter, representing a nearly 16 percent increase compared to the previous year.

While global operations bolstered corporate balance sheets, several companies continue to pare down domestic jobs. At the same time, rising bond yields are increasingly competing with equities for investor capital. In broader commercial developments, home decor chain Depot initiated lease renegotiations across its retail network, and space technology company Isar Aerospace secured €200 million in European Space Agency funding.

Sources: Der Spiegel, FAZ, Tagesschau.