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Frankfurt’s DAX extended early gains to trade over 2% higher on Tuesday, outperforming peers, on the back of strong budget spending plans and upbeat economic data. Germany’s government approved draft budgets with €115.7 billion in investment for 2025 and €123.6 billion for 2026, up from €74.5 billion in 2024, aimed at stimulating growth. The government also reportedly plans to raise defense spending to 3.5% of GDP by 2029, ahead of a key NATO summit on defense spending beginning today. On the data front, the German Ifo business climate index rose to 88.4 in June, topping forecasts of 88.2 and improving from 87.5 in May. Meanwhile, President Trump’s announcement of a ceasefire between Israel and Iran helped ease immediate concerns over energy supply risks, though tensions remain high, with Israel accusing Iran of violating the agreement. Heidelberg Materials, Siemens Energy and Deutsche Bank were the top performers, rising between 3.9% and 6.7%. Airline and auto stocks also advanced.

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Frankfurt’s DAX extended early gains to trade over 2% higher on Tuesday, outperforming peers, on the back of strong budget spending plans and upbeat economic data. Germany’s government approved draft budgets with €115.7 billion in investment for 2025 and €123.6 billion for 2026, up from €74.5 billion in 2024, aimed at stimulating growth. The government also reportedly plans to raise defense spending to 3.5% of GDP by 2029, ahead of a key NATO summit on defense spending beginning today. On the data front, the German Ifo business climate index rose to 88.4 in June, topping forecasts of 88.2 and improving from 87.5 in May. Meanwhile, President Trump’s announcement of a ceasefire between Israel and Iran helped ease immediate concerns over energy supply risks, though tensions remain high, with Israel accusing Iran of violating the agreement. Heidelberg Materials, Siemens Energy and Deutsche Bank were the top performers, rising between 3.9% and 6.7%. Airline and auto stocks also advanced.

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Frankfurt’s DAX extended early gains to trade over 2% higher on Tuesday, outperforming peers, on the back of strong budget spending plans and upbeat economic data. Germany’s government approved draft budgets with €115.7 billion in investment for 2025 and €123.6 billion for 2026, up from €74.5 billion in 2024, aimed at stimulating growth. The government also reportedly plans to raise defense spending to 3.5% of GDP by 2029, ahead of a key NATO summit on defense spending beginning today. On the data front, the German Ifo business climate index rose to 88.4 in June, topping forecasts of 88.2 and improving from 87.5 in May. Meanwhile, President Trump’s announcement of a ceasefire between Israel and Iran helped ease immediate concerns over energy supply risks, though tensions remain high, with Israel accusing Iran of violating the agreement. Heidelberg Materials, Siemens Energy and Deutsche Bank were the top performers, rising between 3.9% and 6.7%. Airline and auto stocks also advanced.

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Germany’s 10-year Bund yield was above 2.5% as investors weighed the conflict in the Middle East and the outlook for monetary policy. President Trump’s announcement of a ceasefire between Israel and Iran temporarily eased fears of energy supply disruptions, though the truce remains fragile, with Israel already accusing Iran of violating the agreement. On the economic front, Germany’s Ifo business climate index rose to its highest level in nearly a year, signaling improved sentiment. However, flash PMIs offered a mixed picture, with signs of stabilization in private sector activity across the Euro Area. Regarding monetary policy, market expectations remain firm for a 25-basis-point rate cut by the ECB before year-end. President Lagarde said that “at the current interest-rate levels, we believe that we are in a good position to navigate the uncertain circumstances” while member Villeroy de Galhau said that the ECB could still cut interest rates in the next half year.