Frankfurt's DAX 40 extended early losses, falling 0.7% to around 25,400 on Thursday afternoon, a level last seen in late July. Traders digested the ECB’s latest decision, with policymakers raising rates by 25 basis points as expected and warning of continued upside risks to inflation. The ECB is responding to renewed price pressures stemming from the war in Iran. Meanwhile, oil prices extended their rally, reaching fresh highs.Hochtief led losses among stocks, dropping 5.1%, followed by Adidas, SAP, Zalando and Siemens Energy.