Stock market: DAX falls below record high. Siemens and Allianz decline. Thyssenkrupp shares plummet.

The DAX recently recorded moderate losses, dropping 0.2 percent. This pushed the leading index below its previous record high of 23,416 points from March. The MDAX , which comprises mid-caps, recently recorded a gain of half a percent, closing at 29,622 points. The Eurozone index EuroStoxx recorded a loss of 0.5 percent.

Investors are focusing on numerous quarterly financial statements, including those from heavyweights such as Siemens , Telekom, and Allianz . There is also some economic data to evaluate, primarily from the US this afternoon. In addition to industrial production, retail sales and industrial surveys from the Federal Reserve Bank of New York and Philadelphia, as well as weekly jobless claims, will be released. All of this provides the US Federal Reserve with clues to confirm its wait-and-see stance regarding possible interest rate cuts, or perhaps to back down from it.

The insurance group Allianz also sees itself on track to achieve its profit target for the current year – despite higher losses from natural disasters at the beginning of the year, which, however, was not enough for investors in pre-market trading. The stock was recently trading at minus 2 percent.

Deutsche Telekom Meanwhile, continued to benefit from the growth of its US subsidiary T-Mobile US and slightly raised its earnings outlook for the full year, although the share price still recorded moderate losses.

RWE and the Darmstadt-based pharmaceutical and technology company Merck also released figures, which weighed on both stocks. The energy company reported declining operating profits, which should not have been surprising, as the share price fell by 2 percent. Merck lowered its targets for the year due to recent sharp exchange rate fluctuations, such as the US dollar, and recently recorded a loss of almost 6 percent.

Among the second- and third-tier companies, many of which also published their quarterly financial results,Thyssenkrupp slumped, closing at minus 9 percent. Douglas, on the other hand, gained slightly and is likely to continue its recovery.

Wall Street's major indices closed mixed on Wednesday evening. The Dow Jones US blue-chip index closed down 0.2 percent at 42,051 points. The broad-based S&P 500 was little changed at 5,892 points, and the tech-heavy Nasdaq 100 rose 0.7 percent to 19,146 points.

Many tech companies were buoyed by the prospect of lucrative business with Saudi Arabia. Nvidia , Advanced Micro Devices , and ARM saw significant gains.

Boeing also benefited from Donald Trump's (78) Middle East trip, as the aircraft manufacturer secured the largest order in its history from a single airline from Qatar Airways . This order includes up to 210 jets. Boeing shares rose significantly at times, accelerating their recovery rally since the tariffs hit lows. However, at the end of trading, they were up only 0.6 percent.

On the commodity market, Brent crude oil from the North Sea fell by 2.1 percent to $64.69 per barrel (159 liters). US WTI crude oil was down 2.2 percent at $61.75.

Investors are anticipating a possible nuclear deal between the US and Iran. An advisor to Iran's leader stated on US television that Iran is willing to agree to a nuclear deal with the US in return for the lifting of economic sanctions. This could allow more Iranian oil to enter the market. In addition, an increase in US inventories pushed down the price.