DAX Index Remains Flat as Market Focuses on US-Iran Agreement and Central Bank Meetings
- The DAX 40 index traded sideways near 24,900 on Tuesday, maintaining levels seen since early June. The market is cautiously optimistic about a potential US-Iran peace agreement and is awaiting key central bank meetings, including the Federal Reserve.
- The US-Iran memorandum of understanding is expected to be formally signed on Friday, which could pave the way for the earliest possible reopening of the Strait of Hormuz this week; however, the full details of the agreement will be released later.
- GEA Group led the gains after Deutsche Bank upgraded its rating from neutral to buy and revised its target price from 70 euros to 64 euros. Industrial giant Rheinmetall rose 2%, while Qiagen, MTU Aero Engines, Siemens, and Airbus each climbed about 1%. Conversely, Brenntag shares fell over 2% after Deutsche Bank Research downgraded its rating from buy to hold and lowered the target price from 67 euros to 57 euros.
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