DAX Modestly Higher; Rheinmetall, GEA Group Rise Sharply
(RTTNews) - German stocks moved higher on Tuesday with gains in the industrials sector contributing to the rise. Meanwhile investors awaited the monetary policy announcement from the Federal Reserve, due on Wednesday.
The DAX was up 80.41 points or 0.33% at 24,136.10 a few minutes before noon.
Rheinmetall climbed 4.5%. GEA Group moved up 2.5%, and Allianz gained 1.8%.
Siemens Energy, Beiersdorf, Hannover Rueck, Deutsche Bank and Scout24 advanced by 1 to 1.4%.
Shares of wind turbine maker Nordex rallied 2% after winning new contracts in France and Belgium.
Adidas and Daimler Truck Holding drifted lower by 1.25% and 1%, respectively. Heidelberg Materials and BASF slid nearly 1%.
Merck, Infineon Technologies, Fresenius and Zalando recorded modest losses.
ThyssenKrupp plunged more than 8% percent after the industrial conglomerate warned of challenging conditions, expecting to swing to a net loss of up to 800 million euros ($931 million) in 2026
In economic news, Germany's foreign trade surplus increased in October as exports rose amid a fall in imports, official data showed.
Exports posted a monthly increase of 0.1% in October, though slower than the 1.5% recovery in September, Destatis reported.
Meanwhile, imports declined 1.2% after rising 5.1% a month ago.
As a result, the trade surplus climbed to EUR 16.9 billion from EUR 15.3 billion in September. The expected surplus was also EUR 15.2 billion. In the same period last year, the surplus totalled EUR 14.6 billion.
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