DAX Down Marginally In Cautious Trade

(RTTNews) - German stocks are exhibiting weakness on Monday in cautious trade after recent gains. Investors are assessing possible risks to global economic growth due to geopolitical tensions and tariff uncertainty, as well as a downgrade in U.S. sovereign debt.

The benchmark DAX, which climbed to 23,758.00 earlier in the session, was down 46.11 points or 0.19% at 23,703.10 a few minutes ago. 23,703.10

Volkswagen is down more than 5% after shareholders renewed their criticism of the automaker's corporate governance at the carmaker's virtual annual general meeting on Friday.

SAP is down nearly 2%. Siemens Healthineers, Adidas, MTU Aero Engines, Vonovia, Deutsche Boerse, Brenntag, Infineon Technologies, Sartorius and Zalando are declining 0.6 to 1.1%.

Munich RE is rising 1.3%. Siemens Energy is gaining about 1.1%, while BMW, Commerzbank, Bayer, Mercedes-Benz, E.ON, Daimler Truck Holding, BASF, Deutsche Bank and Beiersdorf are up 0.4 to 0.8%.

In economic news, Eurozone consumer prices logged a steady growth in April, final data from Eurostat showed. The harmonized index of consumer prices grew 2.2% on a yearly basis in April, the same pace of increase as seen in March. Eurostat confirmed the flash estimate published on May 2.

Core inflation that excludes prices of energy, food, alcohol and tobacco rose to 2.7% from 2.4% in the previous month. The core rate also matched the preliminary estimate.

Among components to HICP, services cost increased the most, up 4%. This was followed by a 3% rise in food, alcohol and tobacco prices. Non-energy industrial goods prices gained only 0.6%. By contrast, energy prices plunged 3.6% from the last year.

On a monthly basis, the HICP moved up 0.6%, as estimated.