German stocks are largely muted on Monday as investors adopt a cautious stance, evaluating developments in the Middle East while also directing their attention to the Sintra Forum, an annual event organised by the ECB that centers on central banking. Following a resurgence of hostilities, the United States and Iran have reached an agreement to cease military strikes against one another and convene on Tuesday in Doha, Qatar, to address their disagreements regarding shipping routes and transit fees.

Meanwhile, Hezbollah’s leader on Saturday condemned the Israel-Lebanon framework agreement as ‘null and void’ and cautioned that its implementation would lead to civil war. The Sintra Forum, taking place from today through Wednesday (June 29-July 1), convenes central bank governors, academics, financial market representatives, journalists, and other stakeholders to engage in discussions on contemporary policy issues and to analyse the Forum’s central theme from a long-term viewpoint.

Germany’s benchmark index DAX experienced a decline of 22.66 points, reflecting a decrease of 0.09%, standing at 24,659.06 shortly after noon.

• RWE experienced an increase of approximately 3.3%. Infineon Technologies experienced an increase of 2.5%, while Zalando saw a rise of 2.3%.
• Shares of wind turbine manufacturer Nordex Group experienced an increase of approximately 1% following the announcement of a secured 325-MW order in the United States.
• Hochtief, SAP, Scout24, Qiagen, E.ON, Siemens, Allianz, and Rheinmetall recorded slight increases.
• Heidelberg Materials experienced a decline of nearly 3%.
• Volkswagen and BMW both experienced a decline of nearly 2%.
• Commerzbank, Daimler Truck Holding, Vonovia, Continental, Mercedes-Benz, and Brenntag experienced declines ranging from 1% to 1.7%.