The DAX slipped further into the red on Tuesday after a weak start, remaining below the previous day’s close by midday. At roughly 12:30 p.m. German time it was at 23,690 points, a 3.8 % fall from the prior settlement. Deutsche Börse, FMC and Qiagen led the winners, while Beiersdorf, Siemens and Siemens Energy were among the losers.
CMC Markets’ chief market analyst Andreas Lipkow said the index was reacting almost minute‑by‑minute to events in the Middle East and seemed to be accelerating its decline below the 24,000‑point threshold. He added that geopolitical uncertainty and Beiersdorf’s quarterly results-below expectations and hurting the broader consumer sector-were weighing on the market. Lipkow noted that Beiersdorf is specifically struggling with the repositioning of its Nivea brand and a weak operating performance.
“The overall market is likely to stay highly volatile and remain sensitive to Middle‑East news” Lipkow added. “Investors around the globe are shifting into a risk‑off mode, which largely affects Europe’s energy‑dependent economy”.
At midday, the euro was softer: one euro was worth 1.1586 US dollars, meaning one dollar could be exchanged for 0.8631 euros.
Oil prices climbed sharply during the same period. Brent crude was trading at $84.19 per barrel around 12:00 p.m. German time, an increase of 8.3 % over the previous day’s close.
