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DAX Rises Sharply As Trump Delays Tariffs On EU
(RTTNews) - German stocks are up sharply on Monday with investors indulging in some hectic buying almost across the board, reacting to reports that U.S. President Donald Trump has delayed the roll out of 50% tariffs on the European Union to July 9 from June 1.
Trump's decision comes after a call from EU Commission President Ursula von der Leyen.
"The EU and US share the world's most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9," Von der Leyen wrote on X.
The benchmark DAX was up 405.28 points or 1.72% at 24,017.74 a few minutes ago.
Siemens, Heidelberg Materials, Rheinmetall, Infineon Technologies, Siemens Healthineers and Commerzbank are up 2 to 2.5%.
Continental and Deutsche Bank, both are gaining nearly 2%. Fresenius Medical Care, Siemens Energy, Zalando, SAP, Daimler Truck Holding, Mercedes-Benz, BASF, Brenntag, Merck, Adidas, Sartorius, BMW, Deutsche Post, Allianz and BMW are also up with strong gains.
Porsche Automobil Holding is down by about 3.4%. Fresenius is declining 0.5%.
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