DAX Hesitates Near Record Mark, Commerzbank and SAP Gain

The German benchmark index DAX was reserved on Tuesday, moving slightly away from its record high. An initial gain at the start of trading could not be maintained; the index fell by 0.12 percent to 16,884.09 points by midday. Remaining within reach of the record high of just over 17,000 points, the MDAX also showed a slight decline, with a decrease of 0.20 percent to 25,537.85 points. In contrast, the EuroZone benchmark index EuroStoxx recorded a slight increase. Investors remain skeptical about rapid interest rate cuts in light of strong U.S. economic data and restrained central bankers. The DAX exceeded its peak on Friday, but buying interest faded quickly. According to analysts at Landesbank Helaba, recently published economic data did not provide new momentum for expectations of rate cuts. Nonetheless, some experts emphasize the currently solid economy. Attention is focused on industrial orders in Germany, which increased by 8.9 percent, contrary to forecasts. Shares of Commerzbank led the gains in the DAX, standing out with an increase of 2.4 percent from the industry trend. SAP shares also demonstrated strong performance with a rise of one percent. Beiersdorf initially recorded gains as well, although they waned over the course of the day. On the other hand, Infineon shares moved into negative territory, falling by three percent as the chip giant disappointed investors due to the market environment and downward revision of the business year forecast. RWE also recorded losses of 2.5 percent, following a downward trend after an analyst downgrade. In the MDAX, Aurubis and Bechtle stood out with gains of over one percent. LEG Immobilien suffered losses, while Salzgitter in the SDAX responded to a buy recommendation with a gain. Shareholders of MorphoSys, however, had reason to celebrate after takeover rumors were confirmed by an offer from Novartis, resulting in a further increase in share price.