DAX Modestly Higher As Investors Await Vote On Spending Plan
(RTTNews) - German stocks are modestly higher on Monday on selective buying as investors await a vote on the spending plan that would help create a 500 billion euro infrastructure investment fund.
It is expected that the CDU/CSU bloc, led by Friedrich Merz, will secure the necessary votes for the constitutional amendments that would pave the way for the reform measure.
Investors are also awaiting the Federal Reserve's monetary policy announcement this week. Bank of England and the Bank of Japan are also scheduled to make their monetary policy announcements this week.
The benchmark DAX, which climbed to 23,076.93 earlier in the session, was up 65.40 points or 0.29% at 23,004.79 a little while ago.
Brenntag is up 2.5%, Fresenius is rising 2.1%, Puma is gaining 2.3%, Volkswagen is up nearly 2% and Porsche is gaining 1.8%, Commerzbank is advancing 1.4% and Bayer is rising about 1.3%.
Siemens Energy, BMW, MTU Aero Engines, Heidelberg Materials, Continental, E.ON., Fresenius, Qiagen and Sartorius are up 0.5 to 1%.
Symrise is declining 1.5%. Infineon, Adidas and Beiersdorf are down 1 to 1.25%. Deutsche Post, Vonovia and Zalando are lower by 0.5 to 0.7%.
The yield on Germany's 10-year Bund fell to 2.885% this morning, before edging up to 2.883%. The yield on 10-year Bund had risen to 2.9% last week, the highest level since 2011.
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