The German DAX index continued its downward trend on Tuesday, sliding further into negative territory after a subdued opening to the trading day. By midday, the benchmark index was calculated at approximately 24,070 points, representing a decrease of 1.0 percent compared to the previous day’s closing level.
Fresenius, RWE and FMC were among the top performers on the leaderboard. However, shares of Sartorius experienced a more than eight percent decline, marking the day’s most significant drop. The pharmaceutical and laboratory supplier released new business figures and reaffirmed its annual targets, but investor reaction remained largely negative.
“The DAX is losing momentum and transitioning into a typical summer trading pattern” noted market expert Andreas Lipkow. He attributed this to a consistent market environment and a noticeable reduction in recent news flow. “The deadline for EU-US tariff negotiations is drawing closer and the earnings season for European companies is anticipated to be rather unremarkable.
The Euro strengthened slightly during midday Tuesday, trading at $1.1707, with one US dollar costing €0.8542.
Meanwhile, oil prices decreased. Brent crude, a benchmark variety of North Sea oil, was priced at $68.56 per barrel around midday German time, a drop of 65 cents or 0.9 percent compared to the previous trading day’s closing value.