Solid Industrial Production Figures Lifts DAX

Dax Futures Live

The benchmark DAX increased by 175.68 points, reflecting a rise of 0.74%, reaching a level of 23,767.31. German stocks are experiencing a slight uptick on Monday, buoyed by data indicating a rise in the country’s industrial production for July, alongside growing optimism regarding a potential interest rate cut by the Federal Reserve this month.

Investors appear to be largely indifferent to survey results indicating an unforeseen decline in eurozone investor sentiment. The attention is directed towards the significant confidence vote in France, where Prime Minister Francois Baurou is likely to encounter a definitive loss.

  • Adidas is experiencing an increase of approximately 2.75%.
  • Commerzbank has increased by 2.7%.
  • Heidelberg Materials has risen by 2.6%.
  • Zalando is experiencing an increase of nearly 2%.
  • Infineon has risen by 1.85%.
  • Siemens, Continental, RWE. Rheinmetall and Vonovia have increased by 1 to 1.5%.
  • Fresenius, Henkel, Mercedes-Benz, Volkswagen, Deutsche Bank, BASF, BMW, Deutsche Boerse, SAP, and E.On are up 0.5 to 1%.
  • Hannover Rueck, Porsche, Daimler Truck Holding, Beiersdorf, Munich RE, Bayer, Sartorius, and Puma have experienced declines ranging from 0.3% to 1%.

Germany’s industrial production increased by 1.3% in July compared to the previous month, rebounding from a 0.1% decline in June. In July, industrial production saw an uptick, driven by a 9.5% rise in the manufacturing sector for machinery and equipment. New data revealed that Germany’s foreign trade surplus declined in July, with exports decreasing at a quicker pace than imports. Exports experienced a monthly decline of 0.6% in July, counteracting a 1.1% increase observed in June.

Imports experienced a minor decline of 0.1% following a 4.1% increase from the previous month. In the meantime, a survey revealed that investor sentiment in the euro zone fell sharply in September, reaching its lowest point since April. The Sentix index for the region has surprisingly dropped to -9.2 in September, down from -3.7 in August. The investor sentiment index increased to -2.2 in September.