Further gains in US tech stock prices also provided some encouragement. At the close of trade, Germany’s leading index rose 0.37 percent to 18,068.21 points.
Last week the uptrend of the Dax, which has been in effect since October 2023, was broken. In addition to political uncertainty… France And the discussion of the EU customs dispute China The US Federal Reserve’s reluctance to cut interest rates is also discouraging investors from taking more risks.
Shares in Carl Zeiss Meditec and Evotec are losing ground
The mid-cap MDax lost 0.92 percent to 25,483.51 on Monday and was mainly hit by very high price losses in shares of Carl Zeiss Meditec and Evotec.
Medical technology group Carl Zeiss Meditec had cut its targets for the 2023/24 financial year due to an unexpectedly slow recovery in its equipment business. Shares fell by more than a fifth.
Allegations against Adidas
On the Dax, Adidas came under pressure with a 2.6 percent loss. A sporting goods company is being investigated for allegations of bribery and embezzlement against workers in China. “Adidas takes allegations of potential compliance violations very seriously and is clearly committed to complying with legal and internal regulations as well as ethical standards in all markets in which we operate,” it said in a statement on Monday. “Financial Times” reported about it earlier.
Deutsche Börse shares are rising
Deutsche Börse shares were among the Dax’s biggest winners, up 2.1 percent after a takeover bid by analyst firm Kepler-Cheuvreux.
The leading EuroStoxx 50 index rose by 0.85 percent on Monday, reaching 4,880.42 points. The leading index in Paris closed with similar gains, while the stock market In London the day ended with only red. US stock markets were friendly. New York’s leading Dow Jones Industrial Average was slightly higher at the European market close. Tech stocks on the Nasdaq tended to maintain demand.
After the market closed, the euro cost $1.0718. It european The Central Bank (ECB) set the base exchange rate at 1.0712 (Friday: 1.0686) dollars at noon. Thus, the dollar was worth 0.9335 (0.9358) euros.
The current yield in the bond market remained at the level of 2.44 percent. The Rex bond index decreased by 0.11 percent, reaching 125.16 points. Bund futures lost 0.49 percent to 132.40.