BRUSSELS (dpa-AFX) - After a fairly good upmove earlier in the session, German stocks pared some gains on Tuesday with investors largely making cautious moves while assessing ongoing trade negotiations between the U.S. and EU, and reacting to the latest set of economic data from the region.
Data showing a steady pace of growth in China is aiding sentiment.
The benchmark DAX 30, which advanced to 24,266.09 earlier in the session, was at 24,200.17 a little while ago, up 34.50 points or 0.14% from previous close.
Sartorius is gaining 3%. Brenntag is up 2.85%, Zalando is rising 2.5% and Porsche is advancing 2.3%.
BASF, Mercedes-Benz, Volkswagen, BMW, Siemens Healthineers, Merck, Infineon Technologies, Porsche Automobil Holding and Adidas are up 1 to 2%.
Commerzbank is declining 2.25%, and Rheinmetall is down 1.3%. MTU Aero Engines, Fresenius, Allianz and Deutsche Telekom are down 0.6 to 1%.
On the economic front, German economic sentiment improved more than expected in July on hopes of a quick resolution to the US-EU tariff dispute and potential stimulus from the federal government, a monthly survey conducted by the think tank ZEW showed.
The ZEW Indicator of Economic Sentiment rose to 52.7 in July from 47.5 in the previous month. The reading was also above forecast of 50.8.
Similarly, the current situation index climbed sharply to -59.5 from -72.0 in the prior month. The score was seen at -65.5.
Eurozone industrial production recovered in May, underpinned by strong rebound in non-durable consumer goods output, data from Eurostat showed.
Industrial output grew at a faster-than-expected pace of 1.7% on a monthly basis in May, in contrast to the 2.2% decrease in April. Economists had forecast a 0.6% rise.
On a yearly basis, growth in industrial production accelerated to 3.7% from 0.2% in the previous month. Output was forecast to climb 2.9%.
Industrial production in the EU27 climbed 1.5% month-on-month in May and expanded 3.4% from the previous year.
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