The DAX stayed relatively flat on Tuesday, amid general market caution as traders digested Donald Trump's first actions in his second term as U.S. President. Key concerns revolved around the prospect of his administration enacting campaign promises on tariffs, especially following his statement about the possibility of imposing tariffs on Canada and Mexico in the near future. Meanwhile, the ZEW Economic Sentiment index for Germany declined more than expected in January. The focus was also on developments at the World Economic Forum in Davos. Among equities, top gainers included Siemens Healthineers (+2%) and Siemens Energy (+1.5%). On the flip side, RWE led the losses with a 1.7% decline, followed by BMW (-1.3%) and Commerzbank (-1.2%).
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