On Tuesday, the Dax experienced losses. At the end of the Xetra trading, the index was calculated at 23,249 points, a decrease of 0.4% compared to the previous day’s closing.
At the bottom of the price list were Beiersdorf, Porsche, Zalando and Infineon. Fresenius shares, however, performed much better after a clear profit increase, as well as Continental shares. The tire manufacturer was also able to report a profit jump.
The stock market day on Tuesday was marked by the turbulent federal election of Friedrich Merz (CDU leader). “The shock was deep among investors after Friedrich Merz did not receive the necessary votes to become the federal chancellor in the first round of voting” said market analyst Andreas Lipkow.
“It shows how difficult the political environment in Germany is at the moment and how divided the parties are. For the German economy, a bitter political aftertaste remains even now” said Lipkow.
The European common currency was stronger on Tuesday afternoon: One euro cost 1.1340 US dollars and one dollar was correspondingly worth 0.8818 euros.
The gold price was able to make significant gains, with a fine ounce costing 3,395 US dollars in the afternoon (+2%). This corresponds to a price of 96.27 euros per gram.
The oil price, on the other hand, rose sharply: At 5:17 pm German time on Tuesday, a barrel of North Sea Brent crude cost 62.55 US dollars, which was 3.9% more than the previous day’s trading session closed.