Trading on Tuesday saw a continued downward trend for the DAX index, following a lackluster opening to the trading day. By midday, the leading index was calculated at approximately 24,070 points, representing a 1.0 percent decrease from the previous day’s closing level.
Fresenius, RWE and FMC demonstrated the strongest performance among the listed companies, while Sartorius shares experienced a more than 8 percent decline. The pharmaceutical and laboratory supplier recently released new business figures and reaffirmed their annual targets, but investor reception to the data proved unfavorable.
Market expert Andreas Lipkow characterized the session as indicative of a typical summer trading period, noting a diminishing momentum in the DAX. He attributed this to a stagnant factual landscape and a significant reduction in news flow over recent trading days. Lipkow highlighted that the deadline for trade tariff negotiations between the EU and the US is drawing closer and the upcoming reporting season for European companies is anticipated to be largely unremarkable.
The Euro strengthened slightly during midday trading, fetching 1.1707 US dollars, with the dollar subsequently valued at 0.8542 Euros.
Meanwhile, oil prices saw a decrease; a barrel of Brent North Sea crude was trading at $68.56 around midday German time, a drop of 65 cents or 0.9 percent compared to the previous trading day’s closing value.
