After its record run of the past two trading days, the Dax DE0008469008 is expected to be stable on Tuesday.

In addition to numerous quarterly reports in this country, which are likely to be the focus in the morning, interest in the afternoon will shift primarily to the inflation data from the USA for April.

About an hour before trading opened, the X-Dax DE000A0C4CA0, Germany's leading index, signaled a 0.1 percent gain to 23,581 points. On Monday, it climbed just below 24,000 points in the first few minutes of trading, amid the easing of the trade conflict between the US and China. It was less than 100 points short of crossing this psychologically important threshold. However, by the close of trading, much of the gains had crumbled.

The Eurozone's leading index, the EuroStoxx 50 EU0009658145, which also rose sharply on Monday but largely held on to its gains, is also expected to remain stable on Tuesday. It is likely to decline slightly at the start of trading.

Now it remains to be seen how sustainable the price gains are, commented portfolio manager Thomas Altmann of QC Partners in Frankfurt. After the recent record highs, the DAX is no longer cheaply valued: "Both the historical and the expected future price-earnings ratio are each 3 points above the average of the past 20 years."

Altmann also pointed to the finale of the DAX reporting season, which is coming up this week. Measured by market capitalization, Munich Re DE0008430026 reported as one of the top ten companies in the DAX. Three more heavyweights, Siemens DE0007236101, Deutsche Telekom DE0005557508, and Allianz DE0008404005, will follow in the coming days.

As expected, the world's largest reinsurer earned just over half of what it earned in the first quarter of the previous year due to the devastating wildfires in Los Angeles. Despite this drop in profits, Munich Re confirmed its forecast. The share price on the Tradegate trading platform fell compared to the Xetra closing price.

Hannover Re DE0008402215, on the other hand, showed little change before the market opened. The smaller reinsurer weathered the California fires surprisingly well and emerged with only a slight decline in profit in the first quarter.

Meanwhile, Bayer DE000BAY0017 rose on Tradegate. The agricultural and pharmaceutical company performed better than expected at the start of the year thanks to its pharmaceuticals business. Although the annual outlook was slightly lowered due to negative exchange rate effects, the group's forecasts for 2025, adjusted for exchange rate effects, remain unchanged.

In addition, other second- and third-tier companies presented quarterly figures. For example, Fraport DE0005773303, listed on the MDax (DE0008467416), reported a surprisingly weak start to the year. The late Easter date and declining passenger numbers at Germany's largest airport led to a net loss. CEO Stefan Schulte nevertheless sees the Frankfurt airport operator on track to achieve its annual targets.

Jenoptik DE000A2NB601 also earned significantly less than expected, but confirmed its annual targets. Both shares subsequently declined in premarket trading, as did Deutsche Wohnen DE000A0HN5C6, which also reported on its past quarter.

Meanwhile, in the SDax DE0009653386, KWS Saat DE0007074007 lowered its sales forecast for the current fiscal year, citing "noticeably lower acreage for corn and sugar beet in Europe."

The scientific publisher Springer Nature DE000SPG1003, on the other hand, increased revenue and operating profit in the past quarter and now expects to achieve the upper half of its target ranges for these key figures.

Quarterly reports and statements for the full year were also provided by the photo specialist Cewe DE0005403901, the car rental company Sixt DE0007231326 and the mechanical engineering and automotive supplier Dürr DE0005565204.

Medios DE000A1MMCC8, on the other hand, is in the spotlight due to personnel changes, as the specialty pharmaceutical company is seeking new top managers. Both CEO Matthias Gärtner and Mi-Young Miehler, the manager responsible for day-to-day operations, are unexpectedly leaving the company.