Frankfurt’s DAX 40 edged lower to around 23,490 on Tuesday, reversing yesterday’s modest advance, as caution returned to markets amid increasing tensions in the Middle East. A new wave of Iranian strikes on Gulf energy facilities has driven oil prices higher, keeping global inflation concerns alive. Meanwhile, US President Trump accused some Western allies of ingratitude after several countries rejected his request to send warships to escort oil tankers through the Strait of Hormuz. Attention was also on the upcoming policy decisions from the ECB and the Federal Reserve, both widely expected to keep interest rates unchanged. Rheinmetall, Qiagen NV, Fresenius SE & Co, MTU Aero Engines and Infineon Technologies were among the top losers, falling between 0.9%-1.4%. Conversely, defensive utility names like E.ON (1.7%) and RWE (1.3%) advanced the most.
