DAX Up Nearly 0.5% On Easing U.S.-China Trade Tensions
(RTTNews) - German stocks are up firmly in positive territory on Monday, with investors cheering U.S. President Donald Trump's conciliatory tone on trade with China.
Trump, who previously threatened to slap steep new tariffs on China, said over the weekend that everything would be "fine" and Washington was not looking to "hurt" China.
The benchmark DAX was up 114.27 points or 0.47% at 24,381.07 a little while ago.
Infineon Technologies is gaining 2.75%. Fresenius Medical Care, BMW and Continental are up 1.8 to 2%.
Deutsche Bank, Vonovia, BASF, Heidelberg Materials, Porsche Automobil Holding, Deutsche Post, Volkwagen, Siemens, GEA Group and Mercedes-Benz are up 1 to 1.5%.
Rheinmetall, Deutsche Telekom, RWE, Munich RE and Bayer are showing weakness.
Data from Destatis showed Germany's wholesale price inflation accelerated in September, with prices rising by 1.2% year-on-year, following a 0.7% increase in August and a 0.5% rise in July.
On a monthly basis, wholesale prices moved up 0.2%, in contrast to the 0.6% decrease in August.
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