The DAX 40 gave up early gains to close about 0.3% down at 26,139 on Wednesday, as investors took profits after the index hit successive record highs over the past few sessions. Market sentiment remained cautiously optimistic amid the prospect of a US-Iran deal that could reopen the Strait of Hormuz. President Trump told reporters on Tuesday night that "a lot of progress" had been made in negotiations with Iran, adding that a deal to reopen the strategic waterway could come "very soon". Meanwhile, attention was also on corporate earnings. Infineon Technologies led losses among stocks, falling more than 5%, after missing elevated margin expectations despite record revenue and a higher full-year outlook. Deutsche Post lost 2.7%, despite beating earnings estimates and expanding its share buyback program. On the opposite side, Fresenius SE & Co jumped 4.9% to lead the index after reporting better-than-expected second-quarter results and raising its full-year earnings guidance.