The DAX Index Opens 0.62% Higher

Frankfurt’s DAX 40 rose 0.5% to around 24,500 on Tuesday after a weak start to the week, buoyed by hopes of renewed talks between Washington and Tehran and the potential reopening of the Strait of Hormuz. The United States has expressed cautious optimism that negotiations with Iran will resume in Pakistan, even as uncertainty persists ahead of the ceasefire deadline. At the same time, fresh optimism around AI provided additional support. Among stocks, chemicals group Brenntag led gains, up 2.2%, with Symrise also higher (1.5%). SAP gained 1.6% and Allianz added 1.5% after Goldman Sachs reaffirmed its buy rating and lifted its price target to €450 from €410. On the downside, Beiersdorf underperformed (-2.7%) after reporting a drop in its quarterly sales, citing weak performance in its core brand and luxury division. MTU Aero Engines (1.5%) and Deutsche Telekom (-1.2%) were also among the top losers.

The DAX Index is picking up 152 points or 0.62 percent on Tuesday. Gains are led by Brenntag (2.24%), Symrise (1.62%) and SAP (1.53%). Biggest losers are Deutsche Telekom (-1.17%), Beiersdorf (-1.14%) and Commerzbank (-0.60%).

Frankfurt's DAX 40 finished about 1.2% lower at 24,444 on Monday, after an escalation in US–Iran tensions over the weekend led to a renewed closure of the Strait of Hormuz and pushed oil prices higher. Hostilities flared following the US seizure of an Iranian vessel, with Tehran threatening retaliation, as the truce between Washington and Tehran approaches its expiration. Attention remains on the possibility of a second round of talks in Islamabad this week after Tehran indicated it may not take part. Industrials, tech and autos were among the hardest hit. In equities, Lufthansa dropped 3.2% and TUI fell 3.1%, respectively, on the back of higher oil prices and concerns over jet fuel reserves. Other top losers included MTU Aero Engines (-4.3%), SAP (-3.5%), Volkswagen (-2.7%), Siemens Healthineers (-2.3%) and Deutsche Bank (-2.3%). On the upside, RWE (2.5%), Commerzbank (1.2%) and Deutsche Borse (1.1%) advanced the most.