The DAX began trading on Tuesday with slight losses. As of 9:30 a.m., the main index was recorded at approximately 25,370 points, representing a 0.2 percent decrease from the previous closing level. On the list of rising stocks, Siemens Energy, Hochtief, and Infineon led the way, while Beiersdorf, Henkel, and Adidas finished the day lower.
Thomas Altmann of QC Partners noted that the start of the week was positive, but added that future performance hinges on whether long-term institutional investors will enter the market, thereby helping to push the DAX higher. He pointed out that the 50-day moving average, currently sitting at 25,602 points, has recently presented a near-insurmountable obstacle for the index. Altmann described the current market as a trade environment where low prices attract entrants, but rising prices are quickly used to take profits. Without greater long-term interest, he believes it will be difficult for the DAX to break out of its current sideways range.
Meanwhile, the European common currency saw a slight weakening on Tuesday morning; the Euro was trading at 1.1157 US dollars, which meant the dollar cost 0.8963 Euros.
In the energy market, oil prices increased. Around 9 a.m. Central European Time, a barrel of North Sea Brent crude cost $116.40, an increase of 61 cents (0.5 percent) compared to the closing price of the previous trading day.
