On Tuesday, the DAX shed further value after a cautious morning start. Around 12:30 PM, the index stood at roughly 25,675 points, which represented a decline of 0.6 percent compared to the previous trading day. Top performers in the index included Beiersdorf, Munich Re, and FMC, while Siemens Energy, Infineon, and Hochtief were among the last listed on the course board.
According to Andreas Lipkow, Chief Market Analyst at CMC Markets, investors in Frankfurt appear reluctant to take on excessive risk after the recent streak of record highs. He noted, “Investors in Frankfurt are still inclined to reduce rather than build up new risky positions.” Additionally, many investors are gradually starting to exit before the summer break.
Elsewhere, the European common currency weakened somewhat during the midday trading session: the Euro was trading at 1.1429 US dollars, making the dollar available for 0.8750 Euros.
In energy markets, the price of oil rose notably. Around noon German time, a barrel of Nord Sea Brent crude cost $72.73, which was 74 cents, or 1.0 percent, higher than the closing price of the previous day.
