FRANKFURT (dpa-AFX) - A sharp rebound in oil prices sent the Dax tumbling on Friday, as Brent crude climbed well above 110 US dollars per barrel. After a stable opening, the German benchmark index ultimately shed 1.38 percent to close at 22,300.75 points. Despite the decline, the Dax remained within Monday's trading range, a session marked by spectacular volatility where conflicting news saw the index swing by 1,300 points between just above 21,860 and nearly 23,200. Over the week, the index edged down nearly 0.4 percent. The MDax lost 2.16 percent on Friday to finish at 27,655.45 points.

Oil prices currently serve as the primary barometer for investor concerns regarding inflation and the economic outlook. US President Donald Trump extended his ultimatum to Iran concerning the Strait of Hormuz - a critical artery for global oil trade - until Easter Monday. Trump stated on his Truth Social platform that no Iranian power plants would be attacked until then, citing "very good" discussions. However, the news flow remains contradictory, as Iran has repeatedly denied such talks took place, while Pakistan confirmed its role as a mediator.

The ten-day extension of the ultimatum does not mitigate the underlying risks, a sentiment palpable across markets, according to Stephen Innes, Managing Partner at SPI Asset Management. He noted it feels more "like a trader rolling over a losing position." Given the inflationary risks, the market is now pricing in three interest rate hikes by the European Central Bank by year-end, according to experts at Index-Radar. This trend is particularly evident in the fixed-income market, where the yield on the ten-year German Bund climbed to its highest level in 15 years. Yields also rose across other Eurozone countries.

Other major European bourses also trended lower. The Eurozone benchmark EuroStoxx 50 fell 1.08 percent to 5,505.80 points. Outside the euro area, London's FTSE saw only slight losses, while Zurich's SMI closed down more than half a percent. In New York, the Dow Jones Industrial was down approximately one percent at the time of the European market close.

On the corporate front, CTS Eventim drew significant attention. While the ticketing and live entertainment group reported a strong fiscal year the previous evening, one trader pointed to a disappointing outlook and highlighted the proposed dividend cut. Analysts now expect consensus estimates to be revised downward. The stock plummeted 23.2 percent at the bottom of the MDax, hitting its lowest level since November 2022.

Jungheinrich shares fell 5.5 percent after the forklift manufacturer also disappointed with its annual targets. Jefferies analyst Lucas Ferhani noted that weak order intake in the fourth quarter suggests a continued slowdown in Europe.

Within the Dax, BASF stood out with a 2.7 percent gain. Analyst Thomas Wrigglesworth of Morgan Stanley reaffirmed his positive rating on the chemical giant and raised his price target. He argued that raw material supply disruptions stemming from the Iran conflict are likely to hit Asian chemical firms harder on the cost side than their European competitors. In the MDax, Evonik surged 5.4 percent following an upgrade to "Overweight."

Meanwhile, Delivery Hero climbed 5.7 percent. Bloomberg reported, citing insiders, that major shareholder Prosus might sell a stake in the food delivery service to Aspex. The investment manager would thus become Delivery Hero's largest shareholder, potentially increasing pressure on the MDax-listed group. Aspex has reportedly been pushing for a sale of the company or its business units.

In the small-cap SDax index, financial group Wüstenrot & Württembergische (W&W) was among the biggest laggards, dropping 5.2 percent. Although management projected further profit growth for 2026 following a surge in earnings last year, financial experts had anticipated a higher annual forecast./niw/jha/

--- By Nicklas Wolf, dpa-AFX ---