The DAX Index Opens 1.01% Higher

The DAX 40 climbed 0.9% to surpass 24,800 on Tuesday, attempting a recovery after a two-day losing streak, led by gains in chipmakers. Infineon Technologies advanced 2.6%. Siemens Energy gained ground, surging 5.1%, after the German energy technology group struck an optimistic tone about orders during its third-quarter pre-closing conference call on Monday. Siemens (3%) and Hochtief (1.8%) also advanced firmly. Meanwhile, investors turned their attention to a batch of economic data, particularly German inflation data. The anticipated US-Iran talks in Doha and central bank speeches at the ECB Forum in Sintra were also in focus. For the quarter, the DAX gained around 9.5%, but has lost approximately 1.1% for the month.

The DAX Index is picking up 248 points or 1.01 percent on Tuesday. Gains are led by Siemens Energy (5.42%), Siemens (2.82%) and Infineon (2.45%).

The DAX 40 closed about 0.2% down at 24,626 after a choppy session on Monday, extending previous week's losses, amid Middle East caution. After several days of missile and drone strikes near the Strait of Hormuz, the US and Iran have reportedly agreed to pause attacks, even as disagreements persist over the resumption of talks in Qatar this week, Meanwhile, investors braced for a slate of economic data releases, with inflation in focus, as well as the start of the ECB’s Sintra Forum, where Federal Reserve Chair Kevin Warsh and ECB President Christine Lagarde are scheduled to speak. Heidelberg Materials was the top loser, plunging 9.1%, on reduced revenue forecasts from several analyst firms for the building materials group in Q2. Deutsche Post dropped 5% after reports that CEO Tim Höttges is pushing ahead with the merger of Telekom and T-Mobile faster than previously thought. Auto stocks also faced pressure, while defense names such Rheinmetall (3%) and Hensoldt (4.2%) stood out.