The DAX index maintained its positive momentum on Tuesday, continuing its climb even after a favorable start to the trading day. By around 12:30 PM, the index stood at 24,635 points, marking a 1.4% gain compared to the previous day’s closing level. Top performers included SAP, Rheinmetall, and Qiagen, while Infineon, Continental, and Mercedes-Benz finished amongst the weakest stocks.
Analysts observed that investors showed relief over the postponement of the planned US military action against Iran, leading to mounting hopes for renewed calm in the Middle East. However, Andreas Lipkow, Chief Market Analyst at CMC Markets, warned that the situation remains extremely fragile and highly prone to sudden changes. He stressed that the critical underlying issue is the status of the Iranian nuclear program, which the United States views as non-negotiable.
Separately, market trends reflected different movements in other sectors. The European common currency weakened significantly midday; one Euro cost $1.1625. Meanwhile, the price of crude oil saw a notable decline. The Nordsee Brent barrel, priced around noon, cost $110.10, representing an 1.8% decrease (or 199 cents) compared to the previous day’s close.
