DAX Modestly Higher As Stocks Recover From Early Lows

(RTTNews) - The German market is modestly higher in late morning trades on Thursday, with stocks recovering well from early weakness. However, the mood still remain cautious amid concerns about growth due to the tariffs by the Trump Administration on EU goods.

On the political front, the coalition government's fiscal plans are facing stiff resistance from lawmakers.

The benchmark DAX, which dropped to 22,435.00 in early trades, losing nearly 240 points in the process, was up 64.64 points or 0.29% at 22,732.40 a little while ago.

Daimler Truck Holding is declining 5.6%. Fresenius Medical Care, Brenntag, Siemens Energy and Infineon are down 1.7 to 2.2%.

Siemens Healthineers, Volkswagen, Bayer, Symrise, Mercedes-Benz, MTU Aero Engines and Continental are lower by 0.5 to 1%.

Hannover Rueck is rising more than 1.5%. The insurer reported profit before tax of 3.213 billion euros for fiscal year 2024, higher than 1.854 billion euros in the previous year. Net income increased to 2.329 billion euros or 19.31 euros per share from 1.825 billion euros or 15.13 euros per share last year.

Operating profit rose to 3.318 billion euros from 1.971 billion euros a year ago.

Hugo Boss AG is gaining about 2%. The luxury fashion company reported fourth-quarter net income of Euro 84 million, compared to Euro 85 million in the year-ago quarter. Operating result or EBIT, however, grew 4% from last year to 126 million euros, and EBITDA climbed 25% to 273 million euros.

Adidas, Zalando and Commerzbank are gaining 1.5 to 1.75%. Rheinmetall, BASF, Heidelberg Materials, Allianz and Deutsche Telekom are up 0.8 to 1.2%.

Data from Eurostat showed Eurozone industrial output rebounded by 0.8% month-over-month in January 2025, surpassing market expectations of 0.6% growth and reversing a revised 0.4% decline in December.