DAX Rises As Focus Shifts To Inflation Data
(RTTNews) - German stocks rose on Monday as France faced a hung parliament after a surprise left-wing surge in Sunday's election.
Investors also awaited key consumer prices data from the U.S. and Germany this week for more clarity on the future path of interest rate cuts.
Meanwhile, Germany's exports declined for the first time in three months in May as demand from China and the United States weakened, data published by Destatis showed today.
Exports posted a monthly fall of 3.6 percent, in contrast to the 1.7 percent increase in April.
At the same time, imports declined more deeply by 6.6 percent, reversing a 1.2 percent rise in April.
Year-on-year, exports decreased 3.8 percent after a 12.3 percent gain in April.
Similarly, imports were down 10.0 percent following April's 6.4 percent increase. The benchmark DAX was up 150 points, or 0.8 percent, at 18,626 after edging up 0.1 percent on Friday.
In corporate news, Delivery Hero shares slumped 5.7 percent. The online food takeaway firm said it may face a fine above 400 million euros from Brussels due to antitrust violations.
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