BRUSSELS (dpa-AFX) - German stocks slipped on Tuesday, weighed down by fading hopes for a resolution to the Middle East conflict, and rising crude oil prices. Data confirming an acceleration in Germany's consumer price inflation in the month of April hurt as well.
U.S. President Donald Trump said the fragile ceasefire between Washinton and Tehran was on 'massive life support,' raising fresh doubts over the chances of a lasting truce.
Brent crude futures climbed to $107.60 a barrel, gaining nearly 3%
The benchmark DAX, which fell to 24,012.48 earlier in the session, was down 197.55 points or 0.81% at 24,158.86 a little while ago.
Gea Group shares tumbled more than 6% and Rheinmetall declined by about 4.4%. Munich RE fell 4.8% after saying it has investments of as much as €2.5 billion ($2.9 billion) in private credit.
MTU Aero Engines, Zalando and Fresenius dropped by 4%, 3.7% and 3.5%, respectively. SAP, Hannover RE, Beiersdorf, Adidas, Continental and Deutsche Bank lost 2%-3%.
Siemens Energy declined sharply despite hiking its FY26 outlook. BMW, Scout24, Henkel and Daimler Truck Holding also drifted notably lower.
Bayer climbed nearly 6.5% after reporting stronger first-quarter earnings, underpinned by a robust performance in its crop science unit.
Brenntag moved up 3.5%, BASF gained 3.25% and Deutsche Boerse advanced 3%. Deutsche Post, Merck, E.On, Porsche Automobil Holding and Fresenius Medical Care climbed 1%-1.7%.
Steelmaker Salzgitter soared 6%. The company lifted its fiscal 2026 earnings forecast after reporting turnaround results for the first quarter. Technology group Jenoptik rallied 10.5% after reporting a 74% jump in its Q1 order intake.
In economic news, final data from Destatis showed Germany's consumer price inflation accelerated to the highest since late 2023 in April as energy prices surged due to geopolitical tensions.
Consumer price inflation rose to 2.9% in April from 2.7% in March, in line with the estimate published on April 29.
Germany's ZEW Indicator of Economic Sentiment rose by seven points to -10.2 in May, recovering from an over three-year low of -17.2 in April and surpassing market expectations of -19.8, a report from the Centre for European Economic Research (ZEW) showed.
Meanwhile, the current economic situation index fell to -77.8, its lowest level since December 2025 and below the expected -77.5.
The ZEW Indicator of Economic Sentiment for the Euro Area rose by 11.3 points to -9.1 in May, beating market expectations of -20. The assessment of the current situation also improved, with the index rising 1.6 points to -41.4, while inflation expectations dropped 13.7 points to 65.3.
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