Frankfurt stocks rise 0.26% on potential U.S.-Iran deal progress

The Frankfurt Stock Exchange's DAX 40 index closed Tuesday with a 0.26% gain, reaching 26,391.42 points. The index briefly surpassed 26,500 points during trading for the first time before losing some ground.

Market sentiment was buoyed by Pakistani Defense Minister Khawaja Asif's statement that the U.S. and Iran appear close to reaching an agreement. This news coincided with a drop in oil prices, which had previously risen, with Brent crude futures nearing $90 per barrel. The earlier surge in oil prices had tempered buying enthusiasm in German equities.

Investors are also closely watching upcoming U.S. inflation data for July, due Wednesday. These figures are expected to provide further indications of the Federal Reserve's stance on interest rates.

Among individual stocks, Siemens Energy, the parent company of Gamesa, saw a 2.6% increase to 158.56 euros. Renewable energy firm RWE gained 1.8% to 57.52 euros, and telecommunications company Deutsche Telekom advanced 1.6% to 28.56 euros. Conversely, laboratory testing firm Qiagen fell 3.6% to 37.08 euros, pharmaceutical company Merck dropped 2.4% to 140 euros, and sportswear producer Adidas lost 3.1% to 162.20 euros.

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the signals from recent days indicate that the U.S. and Iran are close to reaching an agreement