German Stocks at Nearly 2-Week High
The DAX closed 0.8% higher at 25,462 on Tuesday, extending gains for a third consecutive session and reaching its highest level in around two weeks. The index tracked a broadly positive mood across European and US markets, supported by lower oil prices and bond yields. Concerns over France’s fiscal position remained a headwind for the broader market, however, alongside political uncertainty surrounding a snap election in Spain. Expectations for further ECB rate hikes have also receded, with markets now pricing in a nearly 80% probability of another rate increase by the end of the year. SAP (2.2%), Infineon (1.9%), Siemens (1.5%) and Siemens Energy (1.4%) posted strong gains, while Rheinmetall (-2.8%) was the worst performer on the DAX.
8% higher at 25,462 on Tuesday, extending gains for a third consecutive session and reaching its highest level in around two weeks. The index tracked a broadly positive mood across European and US markets, supported by lower oil prices and bond yields. Concerns over France’s fiscal position remained a headwind for the broader market, however, alongside political uncertainty surrounding a snap election in Spain. Expectations for further ECB rate hikes have also receded, with markets now pricing in a nearly 80% probability of another rate increase by the end of the year.
8%) was the worst performer on the DAX.