BRUSSELS (dpa-AFX) - German stocks moved higher on Tuesday, extending gains from previous session, amid some hopes about a potential peace deal between U.S. and Iran.
Hopes about a deal between the two warning nations emerged after U.S. President Donald Trump announced a temporary pause in strike against Iran, aiming to end the conflict. Trump said there was a 'very good chance' the United States could reach an agreement with Iran to prevent Tehran from obtaining a nuclear weapon.
However, the President threatened that a major offensive will take place if no acceptable agreement is reached soon.
The benchmark DAX, which climbed to 24,663.69 earlier, was up 355.05 points or 1.46% at 24,602.63 nearly half an hour before noon.
SAP surged nearly 6%. Rheinmetall climbed 5.1%, while Scout24 and Qiagen moved up 2.75% and 2.7%, respectively. Bayer gained about 2.1%.
Vonovia, MTU Aero Engines, Deutsche Boerse, Merck, E.ON, Hannover RE, Commerzbank, Zalando, Deutsche Telekom, Siemens Healthineers, Siemens Energy and Gea Group gained 1%-1.7%.
Infineon Technologies drifted down more than 2% on profit taking after recent gains. Continental dropped 1.5%, while Mercedes-Benz, Daimler Truck Holding and BASF eased by 0.5%-0.7%.
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