European markets experienced a positive session on Tuesday, with Germany’s DAX index closing up 0.5 percent at 24,423 points. After a cautious opening, the index moved into positive territory mid-morning and maintained gains throughout the afternoon.
Investor sentiment appeared buoyed by ongoing discussions in Washington regarding the future of Ukraine, with a growing perception that a resolution to the conflict may be achievable. Consequently, the majority of companies listed on the DAX saw their share prices increase. However, shares in Rheinmetall experienced downward pressure amid speculation that Ukraine may increasingly source weaponry from the United States.
Late in the trading day, Zalando, Porsche and Brenntag led the gains on the Frankfurt Stock Exchange. Siemens Energy and Rheinmetall registered the largest losses.
Commodity markets also saw shifts. The price of natural gas decreased, with a megawatt-hour trading at 31 Euros, potentially translating to consumer prices of around eight to nine cents per kilowatt-hour, inclusive of taxes and surcharges, should current levels be sustained. Crude oil also declined, with Brent crude futures trading at $66.12 a barrel, a decrease of 0.7 percent from the previous day’s close.
In currency markets, the Euro strengthened slightly, trading at 1.1672 US dollars, while the US dollar was valued at 0.8568 Euros.
