The Dax remained in the green on Tuesday after a friendly start in the morning. By around 12:30 pm, the index was calculated at around 22,445 points, which represents an increase of 0.8% compared to the previous trading day. At the top of the price list were Rheinmetall, Symrise and Deutsche Bank, while Porsche, Deutsche Börse and Henkel were at the bottom.
“Investors are still building on the prospect of an agreement between the US and the EU in the trade tariff dispute” said market expert Andreas Lipkow. Currently, the euphoria level is gradually increasing as individual company quarterly reports are also brightening the mood.
“Both Deutsche Bank and the DWS Group have been able to impress with their quarterly reports. The Porsche AG’s quarterly report, on the other hand, has been disappointing and is mainly influenced by a very challenging market environment in China. This had already been anticipated in advance and was no longer a major surprise. That the prospects remain clouded has dampened investors’ interest in the shares and sent them to the Dax bottom” said Lipkow.
“Current economic prospects are anything but rosy and so the current buyers need a healthy dose of optimism to invest in European companies in this market environment” added the market expert. “Today’s focus remains on the US consumer confidence and JOLTS data.”
The European community currency was weaker on Tuesday afternoon: One euro cost 1.1378 US dollars, while one US dollar was equivalent to 0.8789 euros.
Meanwhile, the oil price dropped significantly: A barrel of North Sea Brent was trading at 64.92 US dollars by around 12 pm German time, which is 94 cents or 1.4% less than the previous trading day’s close.