DAX Finishes on Cautious Note
Frankfurt’s DAX 40 closed marginally down at 25,407 on Monday, as investors weighed the potential for diplomatic progress in the US-Iran conflict, while bracing for key economic data due later this week. Surging oil prices put renewed pressure on sovereign bonds after US President Trump rejected Iran’s peace proposal, fueling inflation concerns. Nevertheless, negotiations are set to continue. Meanwhile, ECB President Christine Lagarde, in an address to the European Parliament’s Committee on Economic and Monetary Affairs, defended “moderate” interest rate hikes in response to rising inflation. Rheinmetall and Scout24 were the top losers, each falling 1.3%. Other laggards included Deutsche Telekom, Volkswagen, SAP, Siemens Energy and Hochtief.
Frankfurt’s DAX 40 closed marginally down at 25,407 on Monday, as investors weighed the potential for diplomatic progress in the US-Iran conflict, while bracing for key economic data due later this week. Surging oil prices put renewed pressure on sovereign bonds after US President Trump rejected Iran’s peace proposal, fueling inflation concerns. Nevertheless, negotiations are set to continue. Meanwhile, ECB President Christine Lagarde, in an address to the European Parliament’s Committee on Economic and Monetary Affairs, defended “moderate” interest rate hikes in response to rising inflation.
3%. Other laggards included Deutsche Telekom, Volkswagen, SAP, Siemens Energy and Hochtief.