Frankfurt’s DAX 40 endured a volatile session on Tuesday as investors closely monitored escalating tensions in the Middle East ahead of the expiry of President Trump’s ultimatum to Iran. Pakistani officials reported that Washington and Tehran were engaged in last-ditch talks via intermediaries in Islamabad. Iran has previously rejected a proposed 45-day ceasefire, insisting instead on a permanent end to hostilities rather than a short-term pause.
Market uncertainty was further amplified by reports that the US had struck military targets on Iran’s Kharg Island, alongside increasingly aggressive rhetoric from Washington. Within the index, industrials and consumer cyclical stocks came under the heaviest pressure, while chemical and media names advanced.
Among individual movers, Heidelberg Materials led the declines, falling 3%, followed by Rheinmetall (-1.9%), Airbus (-1.4%), Siemens Energy (-1.3%), Adidas (-1.3%) and Qiagen NV (-1.1%). On the upside, BASF climbed 2.8%, while Fresenius Medical Care and Brenntag gained 2% and 1.9%, respectively, topping the list of gainers.
