The DAX remained in negative territory on Tuesday, continuing a trend of subdued performance across the midday trading session. Around 12:30 PM, the index was calculated at approximately 26,260 points, marking a decrease of 0.3 percent compared to the previous trading day. The top-performing stocks included Deutsche Telekom, SAP, andDeutsche Post, while Infineon, Siemens Energy, and RWE finished at the bottom of the gains list.
The ZEW economic expectations for August, released during the morning, failed to provide a real boost despite showing a surprisingly clear upward trend. Ulrich Wortberg of Helaba commented that “the renewed improvement in sentiment demonstrates a certain degree of economic optimism.” Nevertheless, the overall environment remains challenging due to the unresolved Middle East conflict and persistently high energy prices. He also noted that low water levels in Germany and the resulting restrictions on shipping are creating uncertainty, suggesting that expectations for interest rate hikes by the European Central Bank are reinforced by today’s figures.
Meanwhile, the European common currency weakened slightly by midday on Tuesday. The Euro traded at 1.1576 US dollars, meaning the dollar was priced at 0.8639 Euros.
Oil prices saw a slight increase. Around 12 PM CET, a barrel of North Sea Brent crude was valued at 91.03 US dollars-a gain of 16 cents, or 0.2 percent, from the close of the prior trading day.
