The DAX remained in positive territory on Tuesday, continuing an upbeat trend through midday. Around 12:30 p.m., the index was measured at approximately 24,965 points, reflecting a gain of 1.4 percent compared to the previous trading day.
In terms of stock performance, Siemens Energy, Siemens, and Infineon led the gains, while Deutsche Telekom, SAP, and Henkel finished the session in the red. Regarding the struggles of the technology giant, Andreas Lipkow, Chief Market Analyst at CMC Markets, noted that Telekom will likely face “considerable headwinds” in the important US market due to plans involving SpaceX. The company is attempting to enter the mobile network market, a move that puts pressure on established carriers.
Overall, investor sentiment remains cautious as the quarter draws to a close, according to Lipkow. He stated that traders are largely staying on the sidelines, with investments being made only “very selectively in individual stocks.”
In currency markets, the European common currency weakened on Tuesday afternoon. The Euro traded at 1.1393 US dollars, while the dollar fetched 0.8777 Euros. Meanwhile, crude oil prices experienced a slight increase. Around noon Central European Time, a barrel of North Sea Brent crude cost $73.24, an increase of 9 cents, or 0.1 percent, from the previous day’s closing price.
