BRUSSELS (dpa-AFX) - German stocks moved higher on Tuesday, extending gains to a fourth straight session, as investors reacted to some encouraging earnings updates and the latest data from the U.S. showing a sharp rise in manufacturing activity in the world's largest economy.
Renewed worries about geopolitical tensions limited market's upside.
Germany's benchmark DAX, which climbed to a fresh record high of 26,26762, gave up some of its gains subsequently and was at 26,154.75 a little while ago, gaining 118.92 points or 0.45% over previous close.
Bayer climbed 3.2%. The German conglomerate posted an unexpected increase in second-quarter profit, helped by a strong performance in its crop science business.
Rheinmetall and Infineon Technologies moved up 2.5% and 2.3%, respectively, while Siemens Energy advanced 2%.
Brenntag, E.ON, Airbus and Merck gained 1%-1.7%. SAP, GEA Group, Deutsche Telekom, Deutsche Bank, RWE, Commerzbank, Qiagen and Heidelberg Materials posted moderate gains.
Shares of online retailer Zalando tanked nearly 17% after the company revised its 2026 revenue and growth outlook to the lower end of its previously guided range.
Fresenius Medical Care tumbled 7.6%, weighed down by a report from the company that treatment volumes in the U.S. declined for a second straight quarter.
Shares in Fresenius Medical Care were down 7.6% in European morning trading Tuesday, wiping out most of their gains since the start of the year.
Lufthansa plunged 10% after the airline group warned of a lower operating profit this year, citing an uncertain geopolitical and macroeconomic environment.
Continental lost 2.7%. The tyre maker reported a sharp fall in second-quarter net income after the spin-off of Aumovio.
Adidas drifted down nearly 3%. Beiersdorf, Daimler Truck Holding, BMW, Mercedes-Benz and Fresenius lost 1.1%-1.5%.
The Institute for Supply Management released a report on Monday showing its reading on U.S. manufacturing activity increased by more than expected in the month of July.
The ISM said its manufacturing PMI climbed to 55.6 in July from 53.3 in June, with a reading above 50 indicating growth in the sector. Economists had expected the index to rise to 54.0.
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