The DAX opened on Tuesday with gains. Around 9:30 AM, the leading index was calculated at approximately 26,515 points, representing a rise of 0.9 percent above the previous day’s closing level. Shares at the top of the performance list included Infineon, Rheinmetall, and MTU, while Symrise, the Deutsche Börse, and Zalando ranked among those performing best at the end of the day.
Thomas Altmann of QC Partners noted that recent comments about Iran by Donald Trump are causing oil prices to fall. He stated that the price of “black gold” is decreasing due to the expectation that further military strikes will not occur, with Brent crude currently trading at just over $90. This price is lower than it was in September. Altmann explained that this reduction in oil costs lowers energy expenses for companies, which is being positively received on the stock markets. He added that the market is now gradually factoring in the implications of the Iran conflict.
According to Altmann, the DAX is also benefiting from the return of positive sentiment. The decline in oil prices is fostering a bullish mood among investors throughout Europe. He remarked that the all-time high achieved last week is now within reach for the DAX. On Tuesday morning, the European currency was stronger; one Euro cost $1.1243, meaning a dollar was worth 0.8894 Euros.
