The DAX Index Closes 1.27% Higher

The DAX Index rose 302 points or 1.27 percent on Tuesday to close at 24044 points. Leading the gains are Siemens (4.13%), Deutsche Bank (3.82%) and MTU Aero Engines AG (3.33%).

Frankfurt's DAX 40 closed about 1.3% firmer at 24,044 on Tuesday, a near one-week high, amid renewed optimism over a potential resolution to the Middle East conflict. According to insiders, the negotiating teams from the US and Iran could return to Islamabad for peace talks as early as this week. In the meantime, both Saudi Arabia and China have opposed the US blockade of Iranian ports that began Monday, casting doubt on its viability. Meanwhile, investors monitored quarterly earnings reports from both sides of the Atlantic. Most sectors recorded gains, with banks, tech and industrials among the top performers. Siemens topped the index with a gain of over 4%. Other notable advancers included Deutsche Bank, Infineon Technologies, Volkswagen, MTU Aero Engines, Merck and Siemens Energy., adding between 2.9%-3.9%. On the downside, BASF and Brenntag emerged as the biggest laggards, losing 1.7% and 1.6%, respectively.

Frankfurt's DAX 40 rose more than 1% toward the 24,000 mark on Tuesday, rebounding from modest losses in the prior day. Sentiment improved across major markets amid renewed hopes of another round of negotiations between the US and Iran. This came alongside heightened geopolitical tensions, as the US moved to enforce a blockade of the Strait of Hormuz following the failed talks over the weekend. Meanwhile, investors took the pulse of a batch of quarterly earnings reports from both sides of the Atlantic. All sectors traded higher, with industrials, financials, techs and consumer cyclicals among the top performers. In equities, Siemens, Siemens Energy, Continental, Mercedes-Benz Group, Merck and MTU Aero Engines posted the biggest gains, between 2%-3%. Deutsche Bank and Commerzbank rose 1.6% and 0.8%, respectively. Rheinmetall (-0.4%) and Zalando (-0.3%) were among the few losers.