DAX experienced a decline on Monday, as investors, reflecting on regional PMI data, engaged in profit-taking following the gains of the previous week. Data indicating a pronounced decline in Germany’s manufacturing activity for November has notably impacted sentiment.

The benchmark DAX experienced a decline of 293.65 points, reflecting a decrease of 1.23%, settling at 23,534.60 recently. Rheinmetall experienced a decline of over 4% as indications of advancement in Ukraine peace negotiations emerged. Where as –

• Heidelberg Materials, Siemens, Deutsche Boerse, RWE, Vonovia, and
  Deutsche Bank experienced a notable decline.
• MTU Aero Engines experienced a decline of 3.3%, whereas Infineon
  Technologies and Siemens Energy saw reductions of 2.7% and 2.5%, respectively.
• Merck experienced an increase of 2.3%.
• Mercedes-Benz experienced an increase of approximately 1.2%, whereas Symrise, Brenntag, Deutsche Post, Volkswagen, Deutsche Telekom, Adidas, and Qiagen saw gains ranging from 0.5% to 1%.

Data indicated that Germany’s manufacturing activity contracted significantly in November, marking the steepest decline in nine months, accompanied by a considerable decrease in new orders. The HCOB final PMI decreased to 48.2, down from 49.6 in the preceding month. The reading fell short of the flash estimate of 48.4. The decline was primarily influenced by a resurgence in the decrease of new orders, which negated the six increases observed in eight months as of October, marking the most significant drop since January due to persistent customer uncertainty and diminished demand from abroad.

The HCOB Eurozone Manufacturing PMI experienced a downward revision to 49.6 in November, down from a preliminary estimate of 49.7. This marks the lowest reading in five months, contrasting with the 50 recorded in October, according to separate data from S&P Global. The preliminary reading registered at 49.7.