DAX Up Marginally As Mood Remains Positive After Passage Of U.S. Short-term Spending Bill
(RTTNews) - The German market is up in positive territory on Tuesday, as the undertone remains firm following the U.S. Senate passing a short-term funding bill late Monday to end the longest government shutdown in U.S, history.
The bill will now be sent to the House, where a vote could come as early as Wednesday.
Investors are also digesting the data on German consumer sentiment, and continuing to react to recent quarterly earnings updates.
The benchmark DAX was up 41.68 points or 0.17% at 24,017.75 a little while ago.
Heidelberg Materials is advancing nearly 3%. Hannover Rueck, Adidas, Daimler Truck Holding, Infineon Technologies and Merck are up 1 to 1.5%.
Beiersdorf, SAP, Deutsche Telekom, Siemens Energy, Vonovia, Deutsche Boerse and Volkswagen are up with moderate gains.
Rheinmetall is declining by about 3.1%. Continental is down 1.5%, Fresenius Medical Care is lower by 1.25% and Scout24 is down 1%. E.ON, Zalando and Brenntag are also down in negative territory.
German economic confidence weakened moderately in November as investors became concerned about the ability of economic policies to address its key issues, a monthly survey conducted by the think tank ZEW showed Tuesday.
The economic sentiment index fell unexpectedly to 38.5 in November from 39.3 in the previous month. The reading was forecast to rise to 41.0.
Similarly, the current situation indicator climbed to -78.7 from -80.0 in the prior month. However, the reading was weaker than forecast of -77.5.
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