RSS DAX Dips Ahead Of No-confidence Vote In Parliament

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 RSS DAX Dips Ahead Of No-confidence Vote In Parliament

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On Monday, German stock indices experienced a decline as Chancellor Olaf Scholz prepared to face a confidence vote in parliament, a step initiating the path toward elections scheduled for February 23. This vote follows the breakdown of his governing coalition last month.

Market participants also responded to recent survey data revealing a slight easing of Germany's economic downturn in December, although business activity continued to decrease for the sixth consecutive month.

The DAX index decreased by 59 points, or 0.3 percent, settling at 20,347, following a 0.1 percent decline on the preceding Friday.

Nordex SE, a leading wind turbine manufacturer, saw its shares decrease by about 1 percent despite securing an order for nine N175/6.X turbines from the green energy firm Alterric for a 56 MW wind farm project in Greece.

Shares of Porsche Automobil Holding SE dropped by 2 percent after the company withdrew its 2024 profit guidance. The decision was attributed to potential non-cash impairment charges linked to its investments in Volkswagen AG and Porsche AG.

The material has been provided by InstaForex Company - www.instaforex.com
 
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