DAX at Over 2-Week High
Frankfurt’s DAX 40 advanced for a third session on Tuesday, rising over 1% beyond 25,000 to levels not seen since mid-January. Investor sentiment continued to improve with calm restored in commodity markets, particularly precious metals. While traders are still weighing the impact of the partial US government shutdown and Kevin Warsh’s Fed appointment, the focus remains on the earnings season, which is in full swing on both sides of the Atlantic. Daimler Truck, Siemens Energy and Rheinmetall were among the top performers, with gains up to 4.5%. Siemens, SAP and banks, including Deutsche Bank and Commerzbank, also advanced firmly, each rising more than 1%. On the downside, Merck dropped nearly 3% after Deutsche Bank lowered its recommendation to Hold from Buy ahead of the company’s quarterly results.
FTSE 100 Trade at Record-High
The FTSE 100 traded slightly higher on Tuesday, hovering around record levels near 10,360, as a rebound in precious and base metals supported mining stocks after two sessions of losses. Gold and silver recovered, lifting miners, with Endeavour up more than 5.5% and Fresnillo rising over 4%, while copper strength pushed Antofagasta up more than 3%. Broader mining names also advanced, with Anglo American, Glencore and Rio Tinto all higher. In the FTSE 250, AG Barr jumped more than 7% after announcing the acquisition of juice maker Frobishers and botanical brewer Fentimans, while Plus500 gained 6.7% after revealing plans to enter the US prediction market through its US B2C platform using products from Kalshi. Gains across miners and mid caps were partly offset by weakness in defensives, with AstraZeneca down more than 1% and Relx falling nearly 3%.
