DAX Edges Up Before Inflation Data Release

Dax Futures

German equities exhibited a varied performance on Tuesday morning as market participants responded to specific stock-related developments while processing the regional PMI data. Flash inflation data set to be released later today is being closely monitored. The benchmark DAX, having reached a high of 24,930.33 earlier in the session, was recently up by 44.01 points, reflecting a gain of 0.18%, now standing at 24,900.33.

  • Infineon Technologies, the leading performer in the DAX index, experienced an increase of 4.2%.
  • Daimler Truck Holding experienced an increase of nearly 4%, while Merck saw an advancement of approximately 2.5%.
  • MTU Aero Engines experienced an increase of 2.15%.
  • Siemens Healthineers, Qiagen, Mercedes-Benz, Deutsche Post, Rheinmetall, and Fresenius experienced increases ranging from 1.2% to 1.75%.
  • Adidas experienced a decline of approximately 6.75%, influenced by a rating downgrade from Bank of America.

Bofa downgraded the stock to ‘underperform,’ indicating that the brand’s turnaround narrative is predominantly reflected in its current valuation, while the company’s growth and margins are expected to stabilize amid a more challenging sector environment. The bank revised its price target to €160 from €213. Brenntag experienced a decline of 2.4%, SAP decreased by 1.7%, GEA Group and Zalando saw losses of 1.3% and 1.2%, respectively, while Heidelberg Materials fell by 1.1%.

Destatis is set to publish Germany’s preliminary inflation figures for December later today. Analysts anticipate that the Consumer Price Index inflation will decline to 2% in December, down from 2.3% in November. Data indicated that the HCOB Composite PMI in Germany fell to 51.3 in December, down from 52.4 in November of 2025. The HCOB Germany Services PMI was adjusted marginally upward to 52.7 in December 2025, revising the preliminary estimate of 52.6, and reflecting a decrease from the 53.1 recorded in November, according to final figures.

The HCOB Flash Eurozone Composite PMI for December 2025 has been adjusted downward to 51.5, a revision from the initial estimate of 51.9 and a decline from November’s 30-month peak of 52.8. The Services PMI recorded a value of 52.4, decreasing from 53.6 in November, whereas the manufacturing PMI stood at 48.8 in December, down from 49.6 the previous month.