Frankfurt’s DAX 40 surrendered early gains to close 0.6% lower at 24,271 on Tuesday, extending losses for a second consecutive session and tracking declines across other major European indices. Investor caution intensified ahead of possible renewed talks between the US and Iran, with the current ceasefire set to expire on Wednesday.
Oil prices moved higher again as shipping activity in the Strait of Hormuz remained heavily disrupted, and after President Trump reiterated that the US will maintain its naval blockade of Iranian ports until a “final agreement” is reached.
On the corporate front, MTU Aero Engines was the session’s worst performer, falling 6.1%. Jefferies reaffirmed its Buy rating on the stock but cut its price target to €410 from €480. Beiersdorf dropped nearly 3% after reporting a decline in quarterly sales, citing weakness in its core brand and luxury divisions.
