DAX Closes Higher

Frankfurt’s DAX 40 closed 0.8% higher at 25,268 on Monday, extending gains from the previous session amid broad-based advances across sectors. Automakers rose after European manufacturers backed a plan to cap imports of Chinese hybrid vehicles, which have posed increasing competition for the industry. BMW gained 1.8%, while Mercedes-Benz advanced 0.6%. Volkswagen rose 0.7% after reporting a 14.3% decline in global deliveries in the third quarter, its sharpest drop in more than four years. Defense Rheinmetall climbed 3.2%. Utilities RWE (3.5%) and E.ON (0.7%) also advanced after Chancellor Friedrich Merz backed using any available budgetary leeway to reduce electricity taxes. Financial stocks moved higher as Deutsche Bank advanced 2.1% amid progress toward a possible settlement related to Malaysia’s 1MDB financial scandal. Commerzbank added 0.6%. Tech and industrial shares also advanced, led by Siemens (4.4%) and Siemens Energy (3%).