DAX Modestly Higher After Data Shows Improvement In Economic Activity
(RTTNews) - German stocks are modestly higher Monday morning with investors reacting to data on Germany's composite and services sector PMI readings, in addition to data from France and UK, and looking ahead to some crucial economic data, including monthly jobs report, from the U.S.
The benchmark DAX was up 81.33 points or 0.42% at 19,990.45 a little while ago.
Data from S&P Global said the Composite PMI in Germany increased to 48 points in December from 47.20 points in November of 2024, while Services PMI increased to 51.20 points in December from 49.30 points in November of 2024.
S&P Global said that the Euro Area's Composite PMI increased to 49.60 points in December from 48.30 points in November of 2024. The data said Services PMI in the Euro Area increased to 51.60 points in December from 49.50 points a month earlier.
Infineon is climbing more than 6%. Sartorius is up nearly 5% and Daimler Truck Holding is gaining about 3.5%. BMW, Porsche, Bayer, Puma and Mercedes-Benz are up 2 to 2.5%.
Volkswagen is gaining nearly 2.5%. According to reports, China's Xpeng Motors has signed a memorandum of understanding with Volkswagen to co-operate on an ultra-fast charging network in China.
Siemens Energy, Adisas, Zalando, Brenntag, Siemens, Merck, Fresenius, BASF and Commerzbank are also notably higher.
MTU Aero Engines is down by about 2.5%. Vonovia, Hannover Rueck, Beiersdorf, Munich RE and Deutsche Boerse are lower by 0.5 to 1%.
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