DAX Pares Early Gains; Symrise, Zalando Move Up Sharply
(RTTNews) - Germany's equity benchmark DAX is down marginally Tuesday morning, paring modest early gains, as investors continue to follow the developments on the geopolitical front and await some key economic data from the U.S. for directional clues.
U.S. President Donald Trump's announcement of that any country that does business with Iran will now have to pay a 25% tariff on all trade with the United States weighed on sentiment.
The benchmark DAX, which advanced to 25,464.43, was down 9.70 points or 0.04% at 25,388.07 a little while ago.
Symrise AG shares surged nearly 7% after the company announced that it is in advanced discussions with potential buyers regarding the divestment of its terpenes business.
Zalando gained 5.4% after Barclays upgraded the stock from equalweight to overweight and raised its price target to EUR 35.00, an increas of EUR 7.00.
Commerzbank climbed up 1.6% and Infineon Technologies gained 1.2%. SAP, Deutsche Bank, Brenntag, BASF, Siemens Healthineers and Siemens advanced by 0.4 to 1%.
Heidelberg Materials slid 2.4% and Continental lost 2%. Fresenius Medical Care drifted down nearly 2% and Qiagen lost 1.6%.
E.ON, Deutsche Post, Siemens Energy, Bayer, Deutsche Telekom, GEA Group and BMW also lost ground.
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