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DAX Down Nearly 0.5% In Cautious Trade Amid Trade Tensions
(RTTNews) - German stocks are down in negative territory on Monday, weighed down by concerns about trade tensions following China and the U.S. accusing each other of violating their trade agreements.
Investor sentiment is also hurt due to U.S. President Donald Trump's threat that he would increase tariffs on steel and aluminum to 50%.
The benchmark DAX was down 110.88 points or 0.46% at 23,896.43 a little while ago.
Sartorius, down 3.4%, is the biggest loser in the DAX index. Daimler Truck Holding is down nearly 2%, while Infineon Technologies and Porsche are down 2.1% each.
Mercedes-Benz, Continental, Adidas, Siemens Healthineers and BMW are lower by 1.6 to 2%. Porsche Automobil Holding, Volkswagen, Beiersdorf, Brenntag, BASF and Merck are also notably lower.
Heidelberg Materials is up nearly 2%. Bayer is gaining 1.15%, while Rheinmetall, Siemens Energy and Zalando are advancing nearly 1%. MTU Aero Engines and Siemens are up with moderate gains.
On the economic front, the HCOB Germany Manufacturing PMI was revised down to 48.3 in May 2025, from a preliminary estimate of 48.8 and April's 48.4, according to a report from S&P Global. This marked the 35th consecutive month of contraction in the manufacturing sector, although output continued to grow modestly.
Meanwhile, the downturn in euro zone manufacturing eased further in May, with the corresponding PMI rising to 49.40 from 49 points in April.
European Economic News Preview: UK GDP, Foreign Trade Data Due
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Japanese Market Notably Lower
