FRANKFURT (dpa-AFX) – After a weak start to the week for the DAX, investors can hope for stabilization on Tuesday. One hour before trading began, the X-DAX, an over-the-counter indicator for the leading German index, signaled an increase of 0.2 percent to 25,033 points. This would allow him to get back above the 25,000 point mark, which ultimately did not last the day before. Its Eurozone counterpart EuroStoxx 50, which did significantly better on Monday, is expected to be similarly moderately positive.
“The brave ones are currently in the minority,” said market expert Thomas Altmann from asset manager QC Partners. The double uncertainty caused by tariffs and the Iran conflict results in increased risk aversion and the classic shift to “safe havens”. Altmann finds it remarkable that US government bonds are increasingly being used again. “It remains unclear, however, whether investors do this out of conviction or rather due to a lack of alternatives,” said the expert. After significant price gains, purchases of precious metals are associated with greater risks of loss.
On the corporate side, the reporting season generates significantly more news than at the quiet start to the week. Dialysis provider Fresenius Medical Care (FMC) (Fresenius SECo) reported a jump in profits for 2025, doing a little better than expected, according to one trader. The outlook, which includes a significant slowdown in momentum, is, as feared, cautious. CEO Helen Giza does not rule out both an increase and a decline in the mid-single-digit percentage range at constant exchange rates for the adjusted operating result in 2026. The main reason is the introduction of a more modern dialysis machine in the USA, which is having an impact. There are signs of a decline in the share price.
The engine manufacturer MTU (MTU Aero Engines) achieved a strong increase in profits thanks to good business with new turbines, spare parts and maintenance. Now the dividend is expected to climb from 2.20 to 3.60 euros, significantly higher than analysts expected. The new CEO Johannes Bussmann is promising further increases in sales and profits for 2026.
In addition, some companies from the SDAX small cap index reported on their business development. The photo service provider Cewe (CEWE StiftungCo) was able to increase sales and operating profit (EBIT) last year. Analysts had expected slightly less in terms of sales, but expected more on average in terms of operating profit. The shares, which had already been weak the day before, were under some pressure before the trading session.
The investment company Indus Holding (INDUS), which specializes in medium-sized companies, felt the burden of US tariffs in the last financial year: While sales increased slightly according to the preliminary figures, the adjusted operating result fell.
The semiconductor company Elmos (Elmos Semiconductor) also presented annual figures and increased its cash flow forecast for 2030. This met with a positive response from investors, as the significant pre-market price increase showed.
Meanwhile, the fuel cell specialist SFC Energy is hoping for an early improvement after a bumpy year. After a slight decline in 2025, sales are expected to increase again in the current year. The operating result is also expected to improve again after a slump of almost a quarter./gl/stk