DAX investors are treading carefully amid ongoing trade talks between the US and China in London.
Germany's benchmark index slipped 0.1 percent to 24,149 points at Tuesday's opening. "This week is dominated by negotiations between China and the US in the ongoing trade dispute," said Jochen Stanzl, analyst at broker CMC Markets. "There is a clear motivation for a deal on both sides. However, whether they can agree on the details in the near future remains uncertain."
Meanwhile, defense stocks accelerated their downward slide. "A double downgrade by BofA from 'Buy' to 'Underperform' on Renk has put further pressure on the sector," said one trader. Shares of tank gearbox manufacturer Renk plunged as much as ten percent. Shares in Rheinmetall and Hensoldt also fell by more than five percent each.
(Reporting by Stefanie Geiger; editing by Elke Ahlswede. For queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets))
