16.06.202616:17:32UTC+00DAX Finishes at Near 2-Week High

The DAX 40 pared earlier gains to finish slightly higher at 24,910 on Tuesday, remaining close to a two-week peak and extending its winning streak to a fourth session. Sentiment stayed supported by hopes for a peace agreement in Iran and a potential reopening of the Strait of Hormuz. A memorandum of understanding is set to be formally signed on Friday, after which a 60-day window will open for negotiations on a final deal.

Insurers, banks, and energy-sensitive industrials were among the strongest performers, while technology stocks and automakers came under heavy pressure. GEA Group led the advance, climbing 5.1% after Deutsche Bank upgraded the stock from Neutral to Buy. Münchener Rück, Hannover Rück, and Allianz also gained, rising as much as 1.3%, while Deutsche Bank and Commerzbank added 0.6% and 0.3%, respectively. Other notable gainers included Qiagen NV, Deutsche Post, Siemens, and Airbus.

On the downside, automakers BMW and Mercedes-Benz Group fell 5.2% and 2.8%, respectively, while Infineon Technologies lost 2.3%.