The German stock market did not find a consistent direction on Tuesday. While the standard stocks in the Dax tended to be stable, the papers from the indices below the leading index mostly posted losses.

The Dax continued to hang below the 16,000 point mark throughout the day and closed practically unchanged at 15,900.53 points. The MDax of medium-sized companies, however, fell by 1.69 percent to 25,948.02 points.

New study data on the cancer drug Pelabresib caused Morphosys’ share price to fall by more than 21 percent on the German market. Although the cancer drug met the primary endpoint, it lacked statistical significance in an important secondary endpoint assessing symptom reduction, emphasized analyst Rajan Sharma from Goldman Sachs. Experts expressed doubts about approval by the authorities.

Shares in Siemens Energy fell significantly during a presentation on the wind power business of its subsidiary Siemens Games. At the close of trading the loss was around eight percent. Gamesa boss Jochen Eickholt had expressed that he wanted to become more active again as soon as possible in the business with wind power turbines for use on land (onshore). Siemens Energy ended up at the bottom of the Dax on Tuesday.

At the top of the leading index, however, an optimistic outlook until 2026 gave the defense company Rheinmetall’s share price an increase of 3.7 percent and in the process also reached another record high.

The financial investor Permira continues to cash in on the software provider Teamviewer. The placement of 13 million shares reduces the share to around 14 percent. The papers were offered for 13.90 euros each. At the close of trading they were trading 12.4 percent lower and therefore below the placement price.

There was another setback for Delivery Hero shares at minus 4.7 percent. Investigations by the EU Commission’s competition watchdogs weighed on the price of the food delivery service. Hellofresh’s shares fell even more than Delivery Hero, losing more than eight percent. According to traders, they too are burdened by the news of investigations into food suppliers by the EU Commission.

The Eurozone index EuroStoxx 50 lost 0.24 percent to 4331.90 points. The leading indices on the stock exchanges in Paris and London also closed moderately lower. In the USA, the Dow Jones Industrial and the technology-heavy Nasdaq 100 were in the red at the European stock market close.

The euro was unable to build on the gains of the past two trading days. After the Xetra close, the common currency cost 1.0929 US dollars. The European Central Bank (ECB) set the reference rate at 1.0955 (Monday: 1.0928) dollars, which means the dollar cost 0.9128 (0.9150) euros.

On the bond market, the current yield rose from 2.61 percent the day before to 2.62 percent. The Rex bond index fell by 0.29 percent to 123.95 points. The Bund future rose by 0.24 percent to 131.22 points.