DAX Index Ticks Up; German Current Account Falls
German equities closed the first trading day of the week higher, with the blue-chip DAX index up 0.19% at Monday's close, as the market assessed the latest economic data from the eurozone's largest economy alongside geopolitical updates. Germany posted a current account surplus of 10.4 billion euros in May, down by 6.2 billion euros month over month. The Bundesbank attributed the latest reading to a slight increase in trade surplus in goods, alongside a swing to deficit from surplus in so-called invisible current account transactions. Zooming out, the European Union and Bahrain launched negotiations on a strategic partnership agreement aimed at improving economic cooperation, resilience and innovation. On the Middle East war, multiple rounds of US airstrikes on Iranian defense systems and subsequent regional retaliation by Tehran sharply escalated the conflict over the weekend. "The European gas market continues to look increasingly vulnerable to supply disruptions from the Persian Gulf.... EU gas storage is currently less than 52% full, compared with a 5-year average of 67%. Continued supply tightness has coincided with heatwaves across Europe, increasing gas demand for.
German equities closed the first trading day of the week higher, with the blue-chip DAX index up 0.19% at Monday's close, as the market assessed the latest economic data from the eurozone's largest economy alongside geopolitical updates.
Germany posted a current account surplus of 10.4 billion euros in May, down by 6.2 billion euros month over month.
The Bundesbank attributed the latest reading to a slight increase in trade surplus in goods, alongside a swing to deficit from surplus in so-called invisible current account transactions.
Zooming out, the European Union and Bahrain launched negotiations on a strategic partnership agreement aimed at improving economic cooperation, resilience and innovation.
On the Middle East war, multiple rounds of US airstrikes on Iranian defense systems and subsequent regional retaliation by Tehran sharply escalated the conflict over the weekend. "The European gas market continues to look increasingly vulnerable to supply disruptions from the Persian Gulf....
EU gas storage is currently less than 52% full, compared with a 5-year average of 67%.
Continued supply tightness has coincided with heatwaves across Europe, increasing gas demand for.