Equities experienced a downturn Tuesday, with the DAX index closing at 24,041 points, representing a 1.1% decrease from the previous day’s close. Market analysts attributed the decline to a lack of catalysts to drive renewed momentum within the broader market.
“Trading activity has been characterized by a certain listlessness and low volume” explained analyst Andreas Lipkow. “Overall, the market is lacking impulses that could inject new dynamism”. He observed a tendency for trading to be concentrated in individual index components, with shares of Sartorius, Siemens Energy and MTU Aero experiencing selling pressure.
Investor behaviour is also demonstrating a shift, with some repositioning portfolios and taking profits from previously strong performers. Defensive sectors are attracting increased buying interest, placing RWE, Fresenius and Fresenius Medical Care among the leading gainers.
The Euro strengthened during Tuesday afternoon, trading at $1.1735, with the dollar fetching €0.8522.
Gold prices saw a positive trend, reaching $3,426 per fine ounce ($93.85 per gram), marking a 0.9% increase.
Conversely, oil prices registered a significant drop. Brent crude was trading at $68.29 per barrel, a decrease of $0.92, or 1.3%, compared to the close of the previous trading day.