After a strong start to the week, the recovery on the German stock market continued at a somewhat slower pace on Tuesday.

Support comes from the Bank of England, which is reportedly planning to postpone the sale of government bonds.

The central bank on the island wanted to let the government bond market come to rest instead of burdening it with sales, it said.

In the course of trading, the Dax rose by 1.3 percent to 12,816 points.

The stock market barometer rose to its highest level in around four weeks.

The M-Dax of medium-sized German companies gained 1.4 percent on Tuesday morning to 23,299 points.

The Eurozone leading index Euro-Stoxx-50 went up by 1.2 percent to 3484 points.

The positive development on Wall Street on Monday evening also provided a boost.

New hopes that interest rates would rise more slowly and good company news had given the American stock exchanges a significant recovery.

The leading index Dow Jones Industrial closed 1.9 percent higher at 30,186 points.

In the end, the market-wide S&P 500 rose by 2.7 percent to 3678 points.

The Nasdaq Composite, which is peppered with technology stocks, even gained 3.4 percent to 10,676 points.

Bad news - good momentum

The US stock market thus continued its recent zigzag course, which had brought it a severe setback after stabilizing on Thursday before the weekend.

Tech values ​​in particular had gone down again on Friday.

Industrial sentiment in the state of New York surprisingly deteriorated significantly in October, as the current Empire State Index shows.

Standing below the zero line, the indicator signals a decline in economic activity.

In recent months, the mood in companies has tended to deteriorate.

The background is probably the Ukraine war, the significantly higher energy prices and the ongoing problems in world trade.

The companies are currently not expecting an improvement in the general conditions in the next six months,

Stock exchanges are currently saying that bad US economic data is providing good impetus for stock trading, say stock experts.

The strong downturn in the Empire State Index is being used as a possible reason for the Fed to raise interest rates more slowly.

It is doubtful whether this will actually be the case.

However, it helps to find a reason to buy at the currently oversold price level of the US stock indices, at least for a short time.

In addition, some better than expected quarterly reports brightened the mood.

At the beginning of the new week, the series of figures from the major US banks entered the second round.

Bank of America surprised on the upside as it weathered the economic turmoil in the third quarter better than experts expected.

Despite high provisions, the bank only made slightly less profit than in the same period last year.

The shares rose by around 6 percent in price.

Bank of New York Mellon stock was up about 5 percent -- earnings beat expectations despite a decline.

The possible reunification of the media companies News Corp and Fox Corp met with a mixed response: while the News shares increased in price by two and a half percent, the Fox papers went down by almost eight percent.

According to both companies, media mogul Rupert Murdoch plans to merge them.

His family trust holds about 40 percent of the voting stock of both companies.

The merger could save costs and the larger company could more easily develop new business areas such as sports betting across multiple media channels, it said.