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DAX Rises Nearly 1%
(RTTNews) - The German market is notably higher Monday morning with investors picking up stocks while closely following the developments on the geopolitical front, and continuing to assess the potential impact of the Trump administration's trade and economic policies.
Amid rising tensions between the U.S. and Europe with regard to the situation in Ukraine, European leaders are set to hold an emergency meeting today. The move follows an announcement from Trump administration that it was opening talks with Russia on ending the war without a European presence.
The benchmark DAX was up 214.50 or 0.95% at 22,697.00 a little while ago.
Shares of arms manufacturer Rheinmetall is soaring nearly 18%, contributing substantially to market's rise. The stock is up amid reports the European leaders are considering a new defense spending package to assist Ukraine. Any big jump in Europe's defense budget is a positive Rheinmetall, which has already been seeing a surge in military orders.
Siemens Energy is gaining 4.3%. Deutsche Bank is up 2% and Munich RE is up 1.9%. Porsche, Zalando, Hannover Rueck, MTU Aero Engines, BMW and Allianz are advancing 1 to 1.4%.
Commerzbank, Fresenius Medical Care, BASF, Infineon, Deutsche Telekom, Daimler Truck Holding and Mercedes-Benz are modestly higher.
Vonovia is down by about 2.3%. Sartorius and Puma are declining 1.25% and 1%, respectively. Merck, Qiagen and Fresenius are down with modest losses.
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