BRUSSELS (dpa-AFX) - German stocks are up firmly in positive territory on Tuesday with investors reacting to a slew of corporate earnings announcements. Easing concerns about U.S. tariffs, and data showing an improvement in German consumer sentiment contribute as well to the positive sentiment in the market.
On Monday, White House officials confirmed President Donald Trump's plans to lower tariffs on auto parts for U.S.-made vehicles.
The benchmark DAX was up 193.35 points or 0.87% at 22,450.14 a little while ago.
Rheinmetall is gaining nearly 6% after the auto and defense firm's first-quarter sales beat expectations.
Symrise is rising nearly 4% after the company said it expects to grow above the anticipated annual market growth rate of approximately 3% to 4%. The company continues to expect an organic growth of 5 to 7%, on EBITDA margin of around 21% and a business free cash flow of around 14% in fiscal 2025.
Deutsche Bank is climbing about 2.7%. Net profit attributable to Deutsche Bank shareholders for the quarter was 1.78 billion euros, up 39% from 1.28 billion euros last year.
MTU Aero Engines is gaining 2.7%, Siemens Energy is up 2.35%, SAP is advancing 2.3%, Brenntag, Daimler Truck Holding and Commerzbank are up 1.7 to 2%, while Beiersdorf, Vonovia, Heidelberg Materials, Sartorius, Bayer and Continental are up 1 to 1.5%.
HelloFresh is soaring more than 10%. The meal-kit maker recorded adjusted EBITDA of 58.1 million euros for the first-qiarter, higher than 16.8 million euros, recorded for the same period last year.
Sportswear maker Adidas reported that its net income attributable to shareholders for the first quarter of 2025 climbed to 428 million euros or 2.40 euros per share from 170 million euros or 0.95 euros per share last year. However, the stock is down by about 0.4% as the company held back from raising its 2025 financial forecasts, citing tariff uncertainty.
Porsche is down more than 6% after the company cut its forecast for the financial year 2025 due to special effects. For the financial year 2025, the company now expects sales revenue to be between 37 billion euros and 38 billion euros, compared to the previous forecast of 39 billion euros to 40 billion euros. The return on sales is projected to be between 6.5% and 8.5%, down from the earlier forecast of 10% to 12%.
Deutsche Boerse is declining 4.2%, while Henkel and Mercedez-Benz are down 1.7% and 1.6%, respectively. E.ON., Infineon Technologies and BMW are down with moderate losses.
Lufthansa shares are down 2.7% after the group reported that its net loss attributable to shareholders for the first quarter of 2025 widened to 885 million euros or 0.74 euros per share from 734 million euros or 0.61 euros per share last year.
On the economic front, German consumer confidence is set to continue its recovery in May as trade tariff hikes by the US administration had a limited impact, a closely watched survey showed.
The forward-looking consumer sentiment index improved unexpectedly to -20.6 in May from revised -24.3 in the previous month, a survey jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions showed. The score was expected to fall to -25.6.
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