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DAX Rises 2.8% As Stocks Rise On Some Tariff Exemptions

RTTNews | 113 days ago

DAX Rises 2.8% As Stocks Rise On Some Tariff Exemptions

(RTTNews) - German stocks are up sharply in positive territory on Monday, mirroring gains in global markets, buoyed by U.S. President Donald Trump exempting smartphones, computers, and other devices and components such as semiconductors, from reciprocal tariffs.

However, there is still some uncertainty about Trump's moves, as commerce secretary Howard Lutnick later clarified that these exemptions are not permanent. Trump later said on Truth Social that they are still subject to the existing 20% Fentanyl tariffs, but just moving to another bracket.

The focus is also on trade talks between the U.S. and the European Union. EU Trade Commissioner Maros Sefcovic is reportedly set to meet with U.S. officials.

The benchmark DAX was up 577.63 points or 2.84% at 20,946.16 a little while ago.

Deutsche Bank is rising 4.75%. Sartorius is climbing up 4.2%, while Infineon Technologies, Siemens Energy, Fresenius Medical Care, Daimler Truck Holding and MTU Aero Engines are gaining 3.5 to 4%.

Deutsche Post, Heidelberg Materials, Rheinmetall, Zalando, BMW, Bayer, Siemens, Brenntag, Continental, Allianz, BASF, Fresenius, Adidas, Munech Rueck, Volkswagen, Hannover Rueck, Commerzbank, Deutsche Telekom, Beiersdorf, Merck, SAP and Symrise are up 2 to 3.4%.

German steel producer Salzgitter AG is down 2.1% after the company said it has ended talks with a bidding consortium on a possible takeover.

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U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.

RTTNews | 36 minutes ago

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

RTTNews | 1h 22min ago

U.S. Trade Deficit Narrows Slightly More Than Expected In June

U.S. Trade Deficit Narrows Slightly More Than Expected In June

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

RTTNews | 2h 27min ago

Eurozone Private Sector Continues To Expand

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | 2h 29min ago

Bay Street May Open Slightly Higher

Bay Street May Open Slightly Higher

Canadian stocks may open on a positive note Tuesday morning amid expectations of a rate cut by the Federal Reserve next month. The focus will be on trade talks between Canad and Mexico.

RTTNews | 2h 41min ago

FTSE 100 Advances On Upbeat Earnings

FTSE 100 Advances On Upbeat Earnings

The UK market is modestly higher on Tuesday, extending gains from previous session, thanks to some upbeat corporate earnings announcements, and expectations that the Federal Reserve will cut interest rate in the near future to spur economic growth.

RTTNews | 3h 10min ago

Pound Rises As Traders Await BoE Monetary Policy Meeting

Pound Rises As Traders Await BoE Monetary Policy Meeting

The British pound strengthened against other major currencies in the European session on Tuesday, as traders shift their focus to the Bank of England's (BoE) monetary policy announcement on Thursday.

RTTNews | 3h 20min ago

CAC 40 Modestly Higher

CAC 40 Modestly Higher

The French stock market is modestly higher Tuesday afternoon with investors mostly reacting to earnings updates and a mixed batch of regional economic data. Expectations of a rate cut by the Federal Reserve sometime soon aid sentiment a bit.

RTTNews | 3h 41min ago

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