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DAX Extending Recent Gains
(RTTNews) - German stocks are up in positive territory on Monday, gaining for a ninth straight session, as investors continue to react to corporate earnings, and monitor developments on the trade front. Markets also await the monetary policy announcements from the Federal Reserve and the Bank of England, due later in the week.
Several big name German companies, including Continental, Hugo Boss, BMW, Fresenius, Infineon, Puma, Heidelberg Materials, Commerzbank, are scheduled to announce their earnings updates this week.
The German benchmark DAX, which advanced to 23,211.52 earlier in the session, was up 131.91 points or 0.57% at 23,189.31 a little while ago.
Rheinmetall is rising about 2.3%. Commerzbank, Hannover Rueck and Munech RE are up 1.7 to 1.8%.
Qiagen, Beiersdorf, Sartorius, Allianz, Deutsche Bank, Symrise, Bayer, Deutsche Telekom, Deutsche Boerse and E.ON. are gaining 0.5 to 1.2%.
BASF is declining 4.4%. Deutsche Post is down by about 3.1%, while Volkswagen, Heidelberg Materials, SAP, Porsche Automobil Holding, Daimler Truck Holding and Zalando are down 0.4 to 0.8%.
On the trade front, U.S. President Donald Trump reportedly said on Sunday that his administration was in talks with several countries, including China, aboout trade deals.
The Fed is widely expected to hold rates at the end of its two-day meeting on Wednesday, while the Bank of England is seen lowering rates by 25 basis points to 4.25% on Thursday.
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