DAX Climbs Higher Despite Middle East Tensions

(RTTNews) - Despite rising tensions in the Middle East, German stocks climbed higher on Tuesday as investors reacted to a slew of earnings updates and other corporate news.

According to reports, the U.S. and Iran indulged in attacks in the Gulf as tensions in the Strait of Hormuz rose.

Iran's parliament speaker said today that US actions were endangering shipping and energy transit in the Strait of Hormuz. "Shipping and energy transit security have been endangered by the United States and its allies through breaching the ceasefire and imposing a blockade," Mohammad Bagher Ghalibaf said in a post on X.

He said a "new equation" was taking shape in the strategic waterway, and added: "We know well that the continuation of the status quo is unbearable for America, while we have not even started yet."

The benchmark DAX was up 192.07 points or 0.8% at 24,227.63 a little while ago.

Rheinmetall climbed up 4.3% after reporting a 7.7% jump (y-o-y) in first quarter earnings to 1.94 billion euros,

Infineon Technologies and Commerzbank moved up 2.75% and 2.5%, respectively.

Scout24 gained 1.8% thanks to JP Morgan maintaining its buy rating for the stock.

Hugo Boss surged nearly 5%, riding on stronger than expected quarterly results.

E.On, Siemens, Zalando, Continental, Siemens Energy, Daimler Truck Holding, Allianz, Henkel and Siemens Healthineers advanced 1%-1.7%.

Fresenius Medical Care dropped 4.7% after reporting a bigger than expected drop in first quarter net profits. Fresenius, Deutsche Post and Symrise drifted down 0.7%-1%.