DAX Up Nearly 0.8%; Infineon Rises Sharply On Strong Earnings

(RTTNews) - German stocks are up in positive territory on Tuesday, gaining for a second straight session, as investors continue to focus on earnings and other corporate news, even while continuing to follow the developments on the trade front ahead of new tariffs that come into force later in the week.

Expectations of an interest rate cut from the Federal Reserve sometime soon also contribute to the positive mood in the market.

The benchmark DAX was up 182.47 points or 0.77% at 23,939.75 a few minutes ago.

Infineon Technologies is rising nearly 5% on strong earnings. Profit from continuing operations rose to EUR293 million in the third quarter, compared with EUR230 million in the second quarter. Earnings per share reached EUR0.22, versus EUR0.17 earned in the prior quarter.

Daimler Truck Holding, Siemens, Siemens Energy and Porsche are up 1.5 to 2%.

Volkswagen, Porsche Automobil Holding, Brenntag and SAP are advancing 1.2 to 1.4%. Adidas, BASF, BMW, RWE, Mercedes-Benz, Deutsche Bank, Hannover Rueck, Henkel and Siemens Healthineers are up with moderate gains.

Gerresheimer shares are up nearly 2% after the packaging and medical equipment maker said it plans to separate its struggling moulded glass division before initiating a subsequent sale process.

Rational AG is up 2.5%. The maker of commercial and industrial kitchen equipment backed its annual sales revenue growth outlook after posting improved Q2 results.

Fresenius Medical Care is down 4% after the world's largest dialysis provider's quarterly results fell short of expectations.

Commerzbank is declining by about 3.3%. Beiersdorf is down 1.1%. Continental is trading 1% down, as second-quarter EBIT fell short of estimates.

Fresenius, Vonovia, Zalando and Deutsche Post are down 0.5 to 0.7%.

In economic releases, business activity in the euro zone grew at a slightly faster pace in July than in June, a survey showed.

The HCOB Eurozone Composite Purchasing Managers' Index, compiled by S&P Global, rose to 50.9 from 50.6 in June - coming in below a preliminary estimate of 51.0.

Separately, Eurostat said that Eurozone producer prices rose 0.8% in June compared to May.