The DAX 40 climbed more than 1.5% to a record high above 26,000 points in the first trading session of August, supported by a sharp decline in oil prices that improved investor sentiment by reducing concerns over inflation and the need for higher interest rates. Oil prices fell after Iran indicated that negotiations to restore shipping through the Strait of Hormuz were making progress, following US President Donald Trump's decision to call off what he described as a major planned attack on the country. Equities also benefited from generally strong corporate earnings and the ongoing rebound in global AI-related technology stocks. Siemens Healthineers surged more than 6% after raising its full-year earnings per share guidance and reporting a robust order backlog alongside quarterly results. Deutsche Telekom gained 5% ahead of its earnings release later in the week, while E.ON advanced around 2% after Jefferies upgraded the stock to "Buy" and significantly increased its price target.