DAX Drifts Lower In Cautious Trade
(RTTNews) - After a weak start and a subsequent recovery that resulted in a brief spell in positive territory, the German market slipped Tuesday morning, with investors largely staying cautious while looking ahead to the European Central Bank's monetary policy meeting, and some crucial economic data from the U.S. this week.
Investors are also closely following the developments in France where Prime Minister Bayrou lost a confidence vote and the President Emmanuel Macron is looking for a new head to head the government and find a solution for the nation's 2026 budget.
The benchmark DAX, which dropped to 23,647.54 earlier, was down 130.37 points or 0.55% at 23,693.73 a little while ago.
Commerzbank is down 3.8%. Zalando is down by about 2%, while Rheinmetall and Bayer are lower by 1.9% and 1.8%, respectively. Vonovia is declining by about 1.7%.
Adidas, MTU Aero Engines, Porsche, Merck, BASF, Siemens, BMW and Daimler Truck Holding are also down in negative territory.
Sartorius is rising by about 1.3%. Beiersdorf, Fresenius Medical Care and Volkswagen are up 1% and 0.8%, respectively. Continental, Henkel and Siemens are up with modest gains.
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