DAX 30 Up Marginally In Cautious Trade

(RTTNews) - German stocks are up marginally Monday morning led by notable gains posted by a few big name stocks as investors digest the official data showing an increase in industrial product prices in the month of December, and await some key reports from the U.S. and Europe for clues about interest rates.

The focus is also on Donald Trump's swearing-in as U.S. President. As the U.S. markets are closed today for Martin Luther King Jr. Day, volumes are likely to be thin in European markets.

The benchmark S&P/TSX, which climbed about 1.2% on Friday, advanced to 20,929.50 earlier this morning, and was up 6.54 points or 0.03% at 20,904.00 a little while ago.

Rheinmetall is rising 2.3%. Fresenius is up nearly 2%, while Deutsche Bank, Commerzbank, Zalando and Henkel are gaining 1 to 1.8%.

RWE, Bayer, SAP, Daimler Truck Holding, Brenntag, Merck, Siemens and Infineon are up with modest gains.

Siemens Energy is down by about 1.3%. Munich RE, Deutsche Telekom, Continental and Siemens Healthineers are down marginally.

Germany's producer prices grew at a faster pace in December largely due to higher capital goods prices, data from Destatis showed on Monday.

The yield on German long-term 30-year bond was hovering around 2.75%, down slightly flrom last week's close. The yield on 10-year bond dropped a bit to around 2.5%.

Data released by Destatis showed that the producer price index registered an annual growth of 0.8% in December, after recording a 0.1% increase in November.

The annual growth in PPI largely reflects the 1.8% increase in capital goods prices. Consumer goods, durable goods and intermediate goods were also more expensive than in the same month last year, while energy was cheaper.

The data said the cost of consumer goods gained 2.6% and durable consumer goods prices rose 1%. At the same time, intermediate goods prices logged a marginal 0.1% gain, while energy prices were down 0.2%.

Excluding energy, producer prices rose 1.2% in December compared to the same month last year and remained unchanged compared to November.

On a monthly basis, producer prices edged down 0.1%, reversing a 0.5% rise in November, the data showed. Prices were forecast to climb 0.3% in December.

On average, producer prices for 2024 were 1.8% lower than in the previous year. This was in contrast to the 0.2 % rise in 2023.