DAX Down Marginally In Cautious Trade
(RTTNews) - German stocks are moving in a narrow range in somewhat lackluster trade Friday morning with investors continuing to track earnings updates, and digesting German and Eurozone PMI data.
The focus is also on Germany's upcoming elections on Sunday.
While preliminary data showing improvement in Germany's manufacturing activity in the month of February is aiding sentiment a bit, fears of fresh tariffs by the Trump administration and lingering worries about geopolitical tensions render the mood cautious.
The benchmark DAX was down 16.06 points or 0.07% at 22,324.49 a little while ago.
Mercedes-Benz is down 1.6%. Sartorius, Qiagen, MTU Aero Engines, Deutsche Boerse, Commerzbank, Hannover Rueck, Munich RE, Fresenius and Merck are down 0.3 to 1.1%.
Symrise, BASF, Vonovia, Continental, Deutsche Post, Volkswagen, Siemens Energy, Zalando, HeidelbergCement, Brenntag, Bayer, Adidas and Porsche are up 0.5 to 1%.
Data from S&P Global said the HCOB Germany Composite PMI rose to 51 in February, from 50.5 in January, according to flash estimates. The manufacturing PMI increased to a 24-month high of 46.1 in February, rising from a score of 45 in January.
Meanwhile, the Services PMI eased to 52.2 in February, from 52.5 a month earlier.
The HCOB Eurozone Composite PMI at 50.2 in February of 2025, remaining unchanged from the previous month for a second consecutive period. The Eurozone manufacturing PMI rose to 47.3 in February from 46.6 in January, while services PMI fell to a three-month low of 50.7 in February, down from 51.3 in January.
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