DAX Pares Early Gains; Bayer Tumbles More Than 7%

(RTTNews) - German stocks pared early gains and are modestly higher a little past noon on Monday. Flash survey results showing the nation's private sector grew at the fastest pace in ten months lifted sentiment early on in the session.

Investors await greater clarity on U.S. tariffs after U.S. President Donald Trump said there will be "flexibility" on his reciprocal tariff plan and that he would discuss tariffs with Chinese President Xi Jinping.

The benchmark DAX, which surged to 23,135.50 early on in the session, gaining nearly 250 points in the process, was up 76.00 points or 0.33% at 22,967.38 a little while ago.

RWE is up nearly 3%. Sartorius and Deutsche Bank are gaining 2.5% and 2.3%, respectively. SAP, Infineon Technologies, Qiagen, Hannover Rucke and Commerzbank are up 1 to 1.3%.

Allianz, Mercedes-Benz, Deutsche Post, Siemens Healthineers, Porsche and Symrise are up with modest gains.

Bayer is down 7.3%. after a Georgia jury ordered the agricultural and pharmaceutical group to pay $2.1 billion in damages to a man who claimed that his cancer was caused by Monsanto's Roundup weed killer.

Vonovia is declining 1.7%, while Siemens, Porsche Automobile Holding, Henkel, Deutsche Boerse, Adidas, Heidelberg Materials and Fresenius are down 0.4 to 1%.

Flash survey results published by S&P Global revealed Germany's private sector grew at the fastest pace in ten months in March amid a robust rebound in manufacturing production,

The flash HCOB composite output index rose to 50.9 in March from 50.4 in February. This was the highest score since last May but it remained well below forecast of 51.2. The improved performance in March reflected a renewed increase in manufacturing production. Meanwhile, the service sector lost momentum.

The services Purchasing Managers' Index fell to 50.2 from 51.1 in the previous month. Moreover, this was weaker than economists' forecast of 52.3. Meanwhile, the manufacturing PMI climbed to 48.3 in March from 46.5 a month ago. The score was seen at 47.1. Nonetheless, the score below 50.0 indicates contraction.

The survey showed that manufacturing new orders rose for the first time since March 2022. Meanwhile, services firms reported the steepest fall in new business in just over a year.