DE40: Indices open higher as markets try to remain calm

• Porsche AG (P911.DE) reported an 8% decline in global deliveries for the first quarter

• Infineon Technologies AG (IFX.DE) has agreed to acquire Marvell Technology

• Europe trend higher are markets try to remain calm

European markets are broadly positive as investors await President Trump'snext move. The volatility gauge VSTOXX fell -4.80% to 31.73, while Spain's SPA35 dropped -1.04% to 11771.

Several markets showed gains, with Polish W20 leading (+2.21% to 2448.6), followed by Austria's AUT20 (+1.19% to 3564). The EU50 rose 0.79% to 4640.6, and Germany's DE40 gained 0.75% to 20217.6. The Netherlands' NED25 increased 0.66% to 815.87, France's FRA40 climbed 0.64% to 7017.9, Switzerland's SUI20 advanced 0.54% to 11027, and UK's UK100 edged up 0.43% to 7785.5.

Italy's ITA40 was among the decliners, falling -0.32% to 32197.

Dax Returns by Sector. Source: Bloomberg Financial LP

Volatility is currently observed in the broader European market. Source: xStation

The German DE40 Index is attempting to regain bullish momentum after retesting the December low at 19,827. Bulls will aim to reclaim the 23.6% Fibonacci retracement level, while bears may look to retest recent lows. The RSI continues to show bearish divergence with lower highs, while the MACD remains bearish and is widening.Source: xStation

Market News

• Infineon Technologies AG (IFX.DE) has agreed to acquire Marvell Technology Inc.'s automotive networking business for $2.5 billion in an all-cash transaction, strengthening its industry-leading automotive unit. The deal for Marvell's Automotive Ethernet division, expected to close this year, expands Infineon's presence in a technology critical for self-driving vehicles. The unit is projected to generate $225-250 million in revenue this year with approximately 60% gross margin. Infineon shares fell 2.2% to €24.57 in Frankfurt trading following the announcement. Stifel analyst Juergen Wagner noted Infineon paid a premium price of about 10-times sales, prioritizing long-term strategy amid investor concerns about tariffs.

• Porsche AG (P911.DE) reported an 8% decline in global deliveries for the first quarter as significant downturns in China and Germany outweighed gains in the US. Sales in China plummeted 42% to 9,471 units, while German deliveries dropped 34% compared to the same period last year. European sales overall declined by 10%, partly due to the discontinuation of models that didn't meet EU cybersecurity regulations, including the popular Macan SUV. North American deliveries provided a bright spot with a 37% increase, though these gains came before President Trump's new auto tariffs took effect. Without US production facilities, Porsche is expected to be among the hardest hit by the new import levies.

• Deutsche Bank (DBK.DE) has appointed Sandi Li as head of equity linked for Asia Pacific, according to an internal memo seen by Bloomberg News. Li, who most recently served as Capital Markets Director at Generation Management, is returning to Deutsche Bank where she previously worked from 2012 to 2014. Meanwhile, RBC Capital Markets analysts suggest the German bank is unlikely to launch a new share buyback program when its current €750 million initiative concludes, citing economic uncertainty. RBC expects solid first-quarter results from Deutsche Bank but notes its outlook will be a key focus for investors. The analysts have reduced their target price on Deutsche Bank to €23 from €26 and project loan losses to remain at around €1.8 billion for 2025.

Other news coming from individual DAX index companies. Source: Bloomberg Financial LP