DAX Inches Higher As US Avoids Government Shutdown
(RTTNews) - German stocks were seeing modest gains on Monday after the U.S. Congress passed a stopgap funding bill, averting for now a looming government shutdown.
Meanwhile, investors shrugged off the results of a survey showing that Germany's manufacturing sector remained mired in a downturn in September as a result of weak demand and falling output.
The HCOB final Purchasing Managers' Index (PMI) for manufacturing rose to 39.6 from 39.1 in August, and below the 39.8 of the flash estimate.
The benchmark DAX was up 39 points, or 0.3 percent, at 15,425 after gaining 0.4 percent on Friday.
Deutsche Bank edged down slightly on reports that the country's financial regulator has appointed a special monitor to oversee the lender's handling of consumer service problems at its Postbank unit.
Insurer Allianz SE was little changed after extending the mandate of Oliver Bate as Chairman and Chief Executive Officer.
Japan Data On Tap For Friday
Euro Climbs Against Majors
Swiss Market Ends Marginally Up
European Stocks Close Weak
Canadian Stocks Turning In Mixed Performance; TSX Down Marginally
U.S. Pending Home Sales Fall More Than Expected In July
Eurozone Economic Confidence Weakens In August
