The German stock index, the Dax, began trading on Tuesday with gains. Around 9:30 AM, the leading index was calculated at approximately 24,560 points, marking a rise of 0.6 percent compared to the previous day’s closing level. Among the top-performing stocks were Brenntag, Infineon, and SAP, followed by Beiersdorf, Airbus, and Deutsche Telekom.
Thomas Altmann from QC Partners attributed the market sentiment to hope that a second, personal round of talks between the US and Iran will take place. He noted that the stock markets are continuing to price in an end to the military conflict and a gradual normalization of energy markets. Conversely, he warned that if talks fail or do not materialize, the potential for disappointment at the exchanges is substantial.
Altmann also added that despite the previous day’s decline, the Dax remains comfortably above its 200-day moving average at the current level of 24,113 points, viewing this as a positive indication. He suggested that the sustained crossing of this key trend line seems to have attracted new buyers into the market.
Meanwhile, the common currency of the European Union was slightly weaker on Tuesday morning: the Euro cost 1.1775 US dollars, making the dollar available for 0.8493 Euros. Furthermore, oil prices dropped; a barrel of North Sea Brent crude was priced at $95.21 around 9 AM Central European Time, which was 27 cents or 0.3 percent less than the previous day’s closing price.