The DAX returned to its previous‑day level on Tuesday after a start of light losses. At 12:30 p.m. the benchmark index was priced at about 25,023 points, just a few points above Monday’s closing figure. Symrise and BASF topped the performance list, while Qiagen, Siemens Energy and Allianz lagged at the bottom.
Market analyst Andreas Lipkow said that investors remain largely loyal to DAX companies and are placing more emphasis on cyclical sectors. “Symrise stocks lead the winners’ list, supported by BASF and the automotive names” he added.
Lipkow also noted that the current optimism about a further economic recovery in Europe backs the sentiment for European equities. “It will continue to be interesting to see whether this budding recovery can keep growing without U.S. economic support. In recent weeks we have also seen early signs of sustained recovery trends in Germany”.
The euro weakened slightly on Tuesday afternoon: one euro was worth $1.1905, and one dollar fetched €0.8400.
Oil prices also edged up. Around 12:00 p.m. German time, a barrel of North Sea Brent crude rose to $69.19, 15 cents (0.2 %) higher than the previous trading day’s close.
