DAX Closes on Cautious Note
Frankfurt's DAX 40 closed virtually unchanged at 25,579 on Tuesday after a volatile session, as caution prevailed across European markets. Brent crude fell before settling back around $100 a barrel after reports that Tehran had offered to reopen the Strait of Hormuz within seven days if the US lifted its blockade of its ports. The proposal could serve as a basis for talks with countries mediating on the sidelines of the United Nations General Assembly. Speaking in New York, President Trump defended the conflict, saying he could “annihilate” Iran but expected a deal after the US midterm elections. Domestically, political concerns persisted after Germany’s CDU suffered its worst-ever result in Mecklenburg-Western Pomerania, winning no seats and prompting calls for Chancellor Merz to step down. Solid gains in tech, travel-related stocks and retailers were offset by wekness in insurers, banks and telecoms.
Frankfurt's DAX 40 closed virtually unchanged at 25,579 on Tuesday after a volatile session, as caution prevailed across European markets. Brent crude fell before settling back around $100 a barrel after reports that Tehran had offered to reopen the Strait of Hormuz within seven days if the US lifted its blockade of its ports. The proposal could serve as a basis for talks with countries mediating on the sidelines of the United Nations General Assembly. Speaking in New York, President Trump defended the conflict, saying he could “annihilate” Iran but expected a deal after the US midterm elections.
Domestically, political concerns persisted after Germany’s CDU suffered its worst-ever result in Mecklenburg-Western Pomerania, winning no seats and prompting calls for Chancellor Merz to step down. Solid gains in tech, travel-related stocks and retailers were offset by wekness in insurers, banks and telecoms.