The DAX in Frankfurt pared early losses to close marginally up at 24,291 on Thursday, as traders weighed encouraging PMI surveys and positive developments on US-EU trade against ongoing uncertainties around Ukraine peace talks. Preliminary August PMI data underscored resilience in major European economies in the face of US tariffs and global uncertainties. Germany’s private sector activity picked up slightly in August from the prior month, supported by better-than-expected manufacturing performance. On the trade front, Brussels and Washington released today the long-awaited joint statement sealing the trade deal they struck nearly a month ago, confirming that cars, semiconductors and pharmaceuticals will face a maximum 15% tariffs to enter the US. Attention now turns to the Fed Chairman's Friday speech at the Jackson Hole symposium. Top gainers were Rheinmetall (+3.3%), Commerzbank (+2.9%), Siemens Energy (+1.4%) and Airbus (+1.2%), while Sartorius underperformed, down nearly 3%.