FRANKFURT (dpa-AFX) - The Dax recovered on Tuesday from its sluggish start to May. Equity prices were bolstered by the commodities markets, where oil and gas prices retreated. Furthermore, corporate quarterly earnings triggered some sharp price swings.
The German benchmark Dax index rose by 1.71 percent to 24,401.70 points. The MDax, which tracks mid-cap stocks, gained 2.26 percent to reach 31,132.72 points.
Despite the ongoing military conflict in the Middle East and the still unresolved situation at the negotiating table, financial markets remained remarkably composed, noted experts from Liechtenstein's VP Bank. Broad-based price setbacks have so far failed to materialize. 'And this is despite the fact that reduced crude oil supplies are showing their effects in a growing number of products related to oil and gas.'
The Eurozone's leading index, the EuroStoxx 50, climbed by nearly two percent on Tuesday. In Zurich, the SMI index lagged behind with a gain of 0.38 percent, while London's FTSE 100 dropped significantly following the long weekend. The US benchmark Dow Jones Industrial was up half a percent at the close of European trading.
Among the flurry of quarterly reports, Fresenius Medical Care disappointed investors. Analysts criticized the dialysis provider's weak performance in the crucial US market. The shares slumped to the bottom of the Dax with a loss of almost eleven percent.
Rheinmetall gained 3.4 percent following the release of its quarterly figures. Although the results were below market expectations, JPMorgan analyst David Perry noted that the defense contractor attributed this to timing effects and reaffirmed its full-year targets.
Commerzbank rose 4.5 percent to 35.55 euros following the official takeover bid from Unicredit. This put the share price above the offer made by the Italian banking giant.
Siemens gained 4.4 percent and Siemens Energy 3.3 percent. These stocks were buoyed by US industrial group Rockwell, which raised its 2026 profit target.
Hochtief shares continued their record rally with a gain of nearly 16 percent, surpassing the 500-euro mark for the first time. The share price continues to be driven by speculation surrounding construction infrastructure in growth segments such as Artificial Intelligence (AI) and digitalization.
Automotive and industrial supplier Schaeffler was in focus after reporting improved profitability in the first quarter. The shares gained 7.6 percent./bek/he
--- By Benjamin Krieger, dpa-AFX ---
