On Monday morning, German stock indices experienced a decline, reflecting broader market weaknesses throughout Europe. This downturn is influenced by the surge in bond yields and diminished expectations for a Federal Reserve rate cut this month. Concerns over an ongoing trade war, a potential economic slowdown in the Eurozone, and political unrest in key European nations further dampened market sentiment.
Currently, the DAX index has decreased by 139.34 points, marking a 0.69% drop to a level of 20,082.00. Key players such as Infineon and Rheinmetall have notably decreased by 2.65% and 2.5%, respectively. Other prominent stocks including MTU Aero Engines, Munich RE, Adidas, Siemens, SAP, Hannover Rueck, Allianz, HeidelbergCement, Deutsche Bank, and Zalando have experienced declines between 1% and 2%.
Furthermore, Allianz, Merck, Siemens Energy, Siemens Healthineers, Vonovia, Deutsche Post, Henkel, and Daimler Truck Holding are also seeing moderate decreases.
Conversely, RWE has emerged as a strong performer, with an increase of 2.1%. E.On and Mercedes Benz have seen gains of 1.7% and 1.5%, respectively. Additionally, Deutsche Telekom, Volkswagen, Bayer, and Porsche have recorded gains ranging from 0.8% to 1.1%. Commerzbank and Symrise have also seen modest upward movement.
The yield on the German 10-year Bund exceeded 2.6% today, marking its tenth consecutive session of increases, amidst growing speculation that interest rates in multiple countries will remain elevated for a longer duration than previously anticipated.
Among midcap stocks, Hugo Boss, Kion Group, Evotec, and TUI have fallen between 1.6% and 3.2%. Meanwhile, TeamViewer, Nordex, and HelloFresh are trading on a positive note.
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