After an escalation in the Middle East war was initially averted, DAX investors took bold action again on Tuesday.
The DAX can continue its strong gain from Monday today. At the start of trading, the leading German index was already trending 0.26 percent higher at 24,370.50 points and can expand on its gains in further trading.
Hope in the Iraq War
Suddenly there is hope for a rapprochement between the USA and Iran, which will at least slow down the rise in oil prices. In the evening, US President Trump announced that he had canceled an attack on Iran that was supposedly planned for Tuesday. Several Gulf states had asked him to do this and “serious negotiations” were underway with Tehran, Trump wrote on the Truth Social platform. That’s why he instructed Defense Secretary Pete Hegseth and other US military representatives to suspend previous plans and only begin a major attack on Iran if an “acceptable agreement is not reached.”
Iran presents new proposals
After efforts to reach an agreement to end the war stalled, Tehran says it has responded to the latest US move with new proposals of its own through mediator Pakistan, Foreign Office spokesman Ismail Baghai told reporters. According to information from the Wall Street Journal, Tehran offered to gradually open the Strait of Hormuz, which is important for global oil and gas trade.
China welcomes Putin – a few days after Trump
A few days after US President Donald Trump, the head of the Kremlin is also attending today Vladimir Putin China on a two-day visit. Putin will be accompanied by a delegation of ministers and managers from state and private companies, said Kremlin spokesman Dmitry Peskov. The talks at the invitation of China’s head of state Xi Jinping are about expanding the privileged strategic partnership between the two countries.
This involves, among other things, cooperation in the areas of industry, trade, transport and construction. The Russian war of aggression in Ukraine and the war between Iran on the one hand and the USA and Israel on the other are also likely to be discussed. The Kremlin emphasizes that Putin’s trip is unrelated to Trump’s visit.
DAX record last in January
The gap to record levels remains on the German stock market. On January 13th, the DAX reached an all-time high of 25,507.79 points. Ultimately, it ended trading that day at 25,420.66 points, which also set a record based on the closing price.
Thomas Zoller, Melanie Schürmann, Alexandra Hesse, finanzen.net editorial team with material from dpa-AFX and Dow Jones Newswires