DAX Modestly Lower In Cautious Trade
(RTTNews) - German stocks are drifting lower Tuesday morning after opening marginally up, as investors continue to monitory the developments on the geopolitical front.
The focus is on U.S. - Russia talks on Ukraine, and the European leaders' views on the developments in Ukraine and discussions about the deployment of troops to Ukraine and raising defense spending.
A lack of significant progress in the European leaders' discussions has rendered the mood quite subdued.
The benchmark DAX, which advanced to 22,864.12 in early trades, was down 57.97 points or 0.25% at 22739.74 a little while ago.
Adidas, Sartorius, Zalando, BASF, Puma, Bayer, BMW, Vonovia, Infineon, Fresenius and Brenntag are down 1 to 2%.
Volkswage, Fresenis Medical Care, Deutsche Post, Covestro, Siemens, RWE and Beiersdorf are modestly lower.
ThyssenKrupp shares are up 2.5%. Commerzbank is gaining about 1.2%. Rheinmetall, which closed with a strong gain on Monday, is up 1%. Airbus Group is also gaining about 1%. Merck and MTU Aero Engines are up 0.6% and 0.5%, respectively.
The yield on Germany's 10-year bond climbed to 2.5%, the highest level in nearly three weeks, amid prospects of increased defense spending and higher bond issuance across the eurozone.
Meanwhile, the ZEW economic survey results showed a significant improvement in economic sentiment in the country.
The ZEW Economic Sentiment Index in Germany increased to 26 points in February from 10.30 points in January of 2025. ZEW Current Conditions in Germany increased to -88.50 points in February from -90.40 points in January of 2025.
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