After the slow start, Dax gained ground late on Tuesday morning and climbed around 0.40 percent to 18,680 points. The daily high was almost exactly 18,700 points. The MDax climbed by 0.53 percent to 25,304 points. The Eurozone leading index EuroStoxx 50 advanced by 0.40 percent to 4914 points.
After the last three-week price rally, there is a tendency towards stagnation at a high level. Investors are currently waiting primarily for quarterly figures from the chip company Nvidia in the middle of the week. The results of the specialist for computer chips for AI applications have a signal effect for the entire industry.
The biggest DAX winner was Continental with an increase of up to 4.6 percent. An upgrade from UBS to “Buy” from “Neutral” provided a tailwind for the tire and automotive supplier group. At the same time, UBS analysts raised the price target to 80 euros from the previous 67 euros.
In contrast, Daimler Truck shares fell to the end of the Dax with a loss of around two percent. The analysts at Goldman Sachs have set the shares to “Neutral” from “Buy” and cut the price target to 39 euros from 46 euros.
Wall Street: Stock markets close inconsistently
At the close of trading, the leading index Dow Jones recorded an increase of 0.16 percent to 41,240 points. The market-wide S&P 500 fell by 0.32 percent to 5,616 points. The technology-heavy Nasdaq 100 lost 1.04 percent to 19,516 points.
Oil prices little changed – focus on Gaza ceasefire
After the significant increase in oil prices at the start of the week, the situation on the oil markets calmed down somewhat on Tuesday. A barrel (159 liters) of North Sea Brent for delivery in October last cost $81.53, $0.10 more than on Monday, while the price for a barrel of US West Texas Intermediate (WTI) was $77 .42 dollars remained stable.
A stop in oil deliveries from Libya and fears of a further escalation of the situation in the Middle East drove up prices for Brent oil and WTI by around two and a half US dollars each on Monday. Reports began circulating that oil production and delivery in eastern Libya had been stopped.
However, the main topic remains the conflict surrounding Israel after the Hezbollah militia from Lebanon, which is allied with Iran, launched numerous rockets and drones at Israeli targets on Sunday morning. Israel’s army said it had recognized “the imminent danger” to its citizens and had begun attacking targets in southern Lebanon with 100 combat aircraft.
After these exceptionally violent mutual attacks, efforts to achieve a ceasefire in the Gaza war are once again coming to the fore. Intensive mediation talks in Cairo have not yet achieved a breakthrough. According to the US government, working groups will continue discussions on outstanding detailed issues in the Egyptian capital in the coming days. However, the chances of quick success are considered slim.