The DAX Index Closes 0.13% Lower

The DAX Index fell 34 points or 0.13 percent on Monday to close at 25374 points. Leading the losses are Porsche Automobil (-1.71%), Deutsche Telekom (-1.22%) and Siemens Energy (-1.21%). Top gainers were Merck (2.70%), Siemens Healthineers (2.42%) and Fresenius Medical Care (1.71%).

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 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 led losses, down 1.3%, followed by Volkswagen, Deutsche Telekom, SAP and Hochtief, falling between 0.9%-1.2%. On the upside, Merck climbed 2.6% after signing a deal worth up to $2.13 billion with Shanghai-based SciBrunch Therapeutics for SPR2015, an experimental oral cancer drug targeting the KRAS G12D mutation. Siemens Healthineers, Fresenius Medical Care and Bayer also gained.

Frankfurt’s DAX 40 fluctuated around 25,400 on Monday, as caution prevailed amid the US–Iran standoff, surging oil prices and elevated government bond yields. Tensions remained high after US President Trump rejected Iran’s proposed truce, while Tehran said it would not ease conditions for reopening the Strait of Hormuz. Still, indirect US–Iran talks are expected to resume this week. Pharma & healthcare, utilities and autos provided support, offsetting weakness in tech and industrials. Siemens Healthineers jumped more than 3%, on Jefferies "Buy" rating, while Fresenius SE & Co and Fresenius Medical Care rose 2.1% and 1.7%, respectively. Merck and Bayer also gained more than 1% each. On the downside, Zalando, BASF, Rheinmetall, SAP and Deutsche Telekom posted the biggest losses, between 1-1.5%.