DAX Rises After Flat Start; Rheinmetall, Bayer Among Top Gainers
(RTTNews) - After a flat start, Germany stock market's key index DAX moved up smartly on Friday, with stocks from several sectors gaining in strength on sustained buying interest. Concerns about AI-related risks and somewhat mixed earnings updates rendered the mood cautious at the start.
The DAX was up 178.05 points or 0.73% at 24,626.63 a little while ago.
Rheinmetall climbed up more than 4%. Bayer gained about 2.1%, while Siemens Energy moved up nearly 2%.
Siemens gained 1.8%, while E.ON and RWE advanced by nearly 1.5%. MTU Aero Engines, Deutsche Bank, Heidelberg Materials and Fresnius Medical Care gained 1%-1.2%.
Siemens Healthineers slipped 3.7%, while Zalando and Volkswagen lost 2.1% and 2%, respectively. BMW, BASF, Merck, Porsche Automobil Holding, Beiersdorf, Mercedes-Benz and Brenntag were also notably lower a little while ago.
Data from Destatis showed Germany's industrial production decreased 1.9% month-on-month in December, reversing a 0.2% rise in November. Output was forecast to drop 0.2%..
On a yearly basis, industrial production dropped 0.6%, in contrast to the 0.5% increase in November.
A separate data from Destatis showed Germany's exports bounced back and imports growth doubled in December.
Exports logged a monthly growth of 4% in December after falling 2.5% in November, the data showed. Shipments were expected to rise 1%. At the same time, the increase in imports doubled to 1.4% from 0.7% in November. Economists had forecast imports to climb 0.2%.
As a result, the trade surplus rose to EUR 17.1 billion from EUR 13.6 billion in November.
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