Consumer confidence in Germany strengthens market position

The German stock market showed growth on Tuesday on the back of data on the consumer confidence index from GfK, while the indices of France and the UK show slight fluctuations.

The German DAX rose to 22,414.76 points, the British FTSE 100 reached 8,420.4 points, and the French CAC 40 was fixed at 7,576.29 points. According to the GfK report, the consumer confidence index in Germany improved to 20.6 points compared with the revised April value of 24.3 points, although analysts had expected a decrease in the indicator.

At the corporate level, Deutsche Bank shares are growing by 2.43% after the publication of data on net profit for the first quarter, which increased by 39.2% year-on-year and reached €1.775 billion. 

At the same time, shares of the British oil and gas giant BP Plc are getting cheaper. The company reported a 3.3-fold decrease in net profit for the first quarter to $687 million, as well as a decrease in revenue to $47.88 billion.