The DAX Index Opens 0.55% Lower

The DAX 40 fell about 0.6% to around 26,400 on Monday, ending a four-day rally that had pushed the index to record highs last week and underperforming its European peers. Renewed US-Iran strikes in the Middle East and a hawkish inflation stance from Federal Reserve Chair Kevin Warsh in his Friday speech at Jackson Hole weighed on market sentiment, pushing oil prices and bond yields higher. On the data front, the release of inflation data was in focus today. Most sectors traded in the red, led by industrials. Siemens Energy led the losses, down more than 4%, while MTU Aero Engines and Heidelberg Materials fell over 1% each. Technology and AI-related stocks also came under pressure, with SAP, Infineon Technologies and Hochtief declining between 0.7% and 1.9%. The index was set to gain around 3% for the month.

The DAX Index is falling 146 points. Losses were driven by Siemens Energy (-3.93%), MTU Aero Engines AG (-1.39%) and Vonovia (-1.34%). Biggest rises came from Continental (1.43%), Brenntag (0.86%) and BASF (0.82%).

The DAX Index went up by 203 points or 0.77 percent on Friday to close at 26570 points. The rise was led by BMW (4.50%), Volkswagen (3.23%) and Mercedes-Benz AG (2.96%). On the downside, the weakerst performers were Rheinmetall (-1.85%), Scout24 (-1.05%) and Fresenius (-0.75%).