Germany’s benchmark DAX index experienced a shift in trading on Tuesday, moving into positive territory by midday despite a weaker opening. Around 12:30 local time, the index was calculated at approximately 24,390 points, representing a gain of 0.3 percent compared to the previous day’s closing level. Leading the gains were shares of Zalando, Porsche and Commerzbank. Conversely, Qiagen, Siemens Energy and Rheinmetall experienced the most significant declines.
Market analyst Andreas Lipkow noted a selective approach from investors. “While investors are selectively buying into German blue chips, they are proceeding with caution and focusing on a limited number of compelling equity stories” he stated. Lipkow added that sustaining a strong upward trend in the DAX remains challenging within the current market environment, emphasizing the importance of responding to key corporate news and effectively mitigating risks.
The Euro demonstrated modest strengthening on Tuesday afternoon. As of the afternoon trading, one Euro was valued at 1.1683 US dollars, while one US dollar fetched 0.8559 Euros. Meanwhile, oil prices decreased, with a barrel of Brent crude oil trading at 65.98 US dollars around 12:00 pm German time – a decrease of 62 cents, or 0.9 percent, from the previous day’s closing price.