The German DAX began trading on Tuesday with gains. Around 9:30 AM, the leading index was calculated at approximately 24,000 points, marking an increase of 1.1 percent compared to the previous day’s closing level. Siemens, Continental, and Mercedes-Benz topped the list of rising stocks, while Zalando, Rheinmetall, and Hannover Rück finished at the bottom of the list.
Jochen Stanzl, Chief Market Analyst at Consorsbank, stated that ongoing Israeli-Lebanese talks and the prospect of resuming US-Iran negotiations are sufficient to show the market a path out of the crisis. He added that the stock exchanges are moving in a direction suggesting a diplomatic conclusion rather than a new escalation of conflict. He suggested that investor sensitivity to conflict news and developments is decreasing, noting that “investors see the peak of the war behind them. Now the focus is on determining which companies offer the best visibility for their profit development in the coming months of the year”.
Meanwhile, the European common currency strengthened on Tuesday morning, with one Euro costing 1.1788 US dollars, and a dollar equivalent to 0.8483 Euros.
Oil prices also dropped significantly. Around 9 AM German time, a barrel of Brent crude oil from the North Sea cost $98.28, representing a decrease of 108 cents or 1.1 percent compared to the previous day’s close.
