The DAX moved into positive territory on Tuesday after a relatively subdued start before lunchtime. Around 12:40 PM, the leading index was calculated at approximately 24,785 points, marking a gain of 0.7 percent compared to the closing level of the previous day. The top performers in the index included Symrise, Infineon, and Deutsche Bank, while companies like Scout24, BASF, and SAP rounded out the group mentioned.
Andreas Lipkow, Chief Market Analyst at CMC Markets, noted that investors are continuing to favor positive signals, focusing on consumer stocks and banking shares within the DAX. He added that investors are approaching the stock market cautiously and adopting a highly selective investment strategy.
Lipkow pointed out that several major economic events are slated to happen soon, which could test market stability. Alongside the Federal Reserve meetings, three large IPOs are expected, which may drain liquidity from the markets. Furthermore, the situation in the Middle East remains fragile and subject to daily changes. The conflict in Iran persists as a complex and difficult-to-gauge geopolitical risk. “Investors are caught between a rock and a hard place,” Lipkow stated, “and must decide whether to focus on economic developments and trend themes or to overemphasize the risks stemming from the Middle East conflict.”
In other financial news, the Euro strengthened by midday, exchanging at 1.1567 US dollars, meaning the dollar could be obtained for 0.8645 euros. Meanwhile, oil prices saw a significant drop. At around noon Central European Time, a barrel of Brent crude from the North Sea was trading at 92.53 US dollars, which represented a decrease of 172 cents, or 1.8 percent, from the previous day’s closing price.
