The DAX Index Opens 0.07% Lower

Frankfurt’s DAX 40 moved marginally into negative territory around 25,200 on Monday after a positive start, pressured by elevated bond yields amid growing political instability in Europe. Sentiment was weighed by Prime Minister Pedro Sánchez’s decision to call snap elections on 29 November after Congress rejected two housing decrees proposed by his government. The move added to concerns about France’s rising debt and political risks ahead of next year’s election. Meanwhile, oil prices declined as signs of increased global supply overshadowed ongoing geopolitical risks in the Middle East. Siemens Healthineers, Infineon Technologies, Qiagen and Hochtief were the biggest laggards, each falling more than 1%. On the upside, Continental outperformed, rising 1.8% after Morgan Stanley upgraded the stock to “Overweight.”

The DAX Index is falling 18 points. Losses were driven by Siemens Healthineers (-1.45%), Qiagen NV (-1.29%) and Infineon (-0.99%). Biggest rises came from Continental (1.67%), SAP (0.90%) and Fresenius (0.74%).

The DAX Index rose 292 points or 1.17 percent on Friday to close at 25231 points. Leading the gains are Infineon (8.41%), Qiagen NV (4.90%) and Hochtief (2.42%).