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DAX Rises 2.8% As Stocks Rise On Some Tariff Exemptions
(RTTNews) - German stocks are up sharply in positive territory on Monday, mirroring gains in global markets, buoyed by U.S. President Donald Trump exempting smartphones, computers, and other devices and components such as semiconductors, from reciprocal tariffs.
However, there is still some uncertainty about Trump's moves, as commerce secretary Howard Lutnick later clarified that these exemptions are not permanent. Trump later said on Truth Social that they are still subject to the existing 20% Fentanyl tariffs, but just moving to another bracket.
The focus is also on trade talks between the U.S. and the European Union. EU Trade Commissioner Maros Sefcovic is reportedly set to meet with U.S. officials.
The benchmark DAX was up 577.63 points or 2.84% at 20,946.16 a little while ago.
Deutsche Bank is rising 4.75%. Sartorius is climbing up 4.2%, while Infineon Technologies, Siemens Energy, Fresenius Medical Care, Daimler Truck Holding and MTU Aero Engines are gaining 3.5 to 4%.
Deutsche Post, Heidelberg Materials, Rheinmetall, Zalando, BMW, Bayer, Siemens, Brenntag, Continental, Allianz, BASF, Fresenius, Adidas, Munech Rueck, Volkswagen, Hannover Rueck, Commerzbank, Deutsche Telekom, Beiersdorf, Merck, SAP and Symrise are up 2 to 3.4%.
German steel producer Salzgitter AG is down 2.1% after the company said it has ended talks with a bidding consortium on a possible takeover.
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