On Tuesday, Frankfurt's DAX index saw a slight decline, trading just below the 23,300 mark, as investors paused after a nine-day rally. The market's attention remains fixed on the current earnings season, with significant developments anticipated, such as the Federal Reserve's forthcoming monetary policy decision. A key highlight of the day is the election of Friedrich Merz as Germany’s new chancellor, whose administration's considerable investment in infrastructure and defense is fueling optimism about Germany’s economic future.
In corporate news, Hugo Boss shares surged nearly 7% after surpassing revenue expectations. Fresenius Medical Care's stock increased by over 4% following first-quarter results that exceeded market forecasts. Similarly, Continental gained 2.4%, reporting its highest sales in four years. Zalando, the online fashion retailer, also reported stronger-than-expected sales for the first quarter and reaffirmed its guidance for the full year.
