The Dax started the trading day on Tuesday with a slight decline. At around 9:30 am, the leading index was calculated at approximately 22,314 points, which is 0.1 percent below the previous day’s close. At the top of the price list were Continental, FMC and Zalando, while at the bottom were Siemens Healthineers, Airbus and MTU.
According to market analyst Andreas Lipkow, “market participants are still guided by the prospect of a quick agreement in the trade dispute between the USA and China or the EU.” However, the results are still uncertain and carry significant residual risks. It is currently unlikely that the retaliatory tariffs will be fully lifted, so some industries and sectors will face significant challenges. According to the analyst, investors are currently less concerned about this and are instead focusing on German companies. Overall, they are still looking for stocks that are less dependent on the economy.
The European community currency was slightly stronger on Tuesday morning, with one Euro costing 1.1338 US dollars and one US dollar being equivalent to 0.8820 Euros.
The oil price also increased significantly on Tuesday morning. A barrel of North Sea Brent crude oil was priced at 61.61 US dollars at 9 am German time, which is 2.3 percent higher than the previous trading day’s close.