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DAX Modestly Higher In Cautious Trade
(RTTNews) - German stocks are modestly higher in cautious trade Monday morning with investors assessing the potential impact of fresh tariff announcements from U.S. President Donald Trump, in addition to tracking corporate earnings updates.
Trump said over the weekend that he would announce new 25% tariffs on all steel and aluminium imports, raising fears of a brewing global trade war and its potential impact on the global economy.
China's retaliatory tariffs on U.S. goods take effect later in the day. Trump has stated that he would announce reciprocal tariffs on Tuesday or Wednesday that mirror the tariffs those countries charge on American exports.
Optimism about more monetary easing by the European Central Bank (ECB) is aiding sentiment. The ECB Governing Council member Boris Vujcic said that expectations for three more rate reductions this year are reasonable.
The benchmark DAX was up 53.08 points or 0.24% at 21,815.89 a little while ago.
RWE and Vonovia are gaining 1.3% and 1.2%, respectively. Volkswagen is up nearly 1%, while Adidas is rising 0.8%.
E.ON, Fresenius Medical Care, Mercedes-Benz, Muench. Rueckvers, Hannover Rueck, MTU Aero Engines, Deutsche Telekom, BMW, Deutsche Post, Allianz and Fresenius are up 0.4 to 0.8%.
Qiagen is declining 2.7%. Merck is down nearly 2% and Infineon is down by about 1.1%.
Henkel, Sartorius, Siemens Healthineers and Zalando are down with modest losses.
The yield on Germany's 10-year bond was at 2.381% a little while ago, after having dropped to 2.371% earlier in the day.
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