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DAX Rises Nearly 1% As Investors Await Corporate Earnings Updates
(RTTNews) - The German market is up firmly in positive territory on Monday as investors pick up stocks ahead of a slew of earnings announcements, and some crucial economic data due this week. Optimism about an improvement in U.S.-China trade relations also appears to be supporting the market.
Adidas, Deutsche Bank, Deutsche Boerse, Porsche, Symrise, Lufthansa and HelloFresh are scheduled to announce their earnings updates on Tuesday.
Mercedes-Benz, Volkswagen, Deutsche Post, BASF and Linde are also slated to announce their earnings this week.
The benchmark DAX was up 203.65 points or 0.93% at 22,440.06 a little while ago.
Commerzbank is gaining about 2.5%. Fresenius Medical Care is rising 2.35% and SAP is advancing nearly 2%.
Henkel, Fresenius, Volkswagen, Porsche, MTU Aero Engines, Beiersdorf, Porsche Automobil Holding, Siemens Healthineers, Adidas, Deutsche Bank, Mercedes-Benz and BASF are up 1 to 1.7%.
Merck is gaining nearly 1.5% after announcing that it has struck a deal to acquire U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to boost its cancer drug business.
Continental is down by about 2.7% and Hannover Rueck is declining 1.4%. Rheinmetall, Deutsche Boerse, Vonovia and Munich RE are also notably lower.
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