The DAX started the trading day on Tuesday with slight losses. At around 9:30 AM, the main index was calculated at approximately 23,120 points, marking a drop of 0.2 percent from the closing level of the previous Thursday. Among the top performers in the listed securities were FMC, MTU, and Brenntag, while the stocks that declined the most were Siemens Energy, SAP, and Scout24.
According to Thomas Altmann of QC Partners, “Investors face an almost impossible task today”. He noted that the market has to price in the likelihood of a deal between the US and Iran, and “today is the last day for this deal”. Different asset classes are currently speaking different languages. Altmann observed that “while the oil price is rising again, stocks and bonds appear rather relaxed. Wallstreet ended yesterday’s Easter Monday with moderate gains”. He also warned that a failure in negotiations or a new wave of severe attacks could send shockwaves through the markets.
Meanwhile, the European common currency was slightly weaker on Tuesday morning, with one Euro costing 1.1542 US dollars, meaning a dollar could be bought for 0.8664 Euros. In the meantime, oil prices rose significantly; a barrel of North Sea-grade Brent oil cost $111.10 around 9 AM German time, which is a 1.2 percent increase compared to the close of the previous trading day.