DAX Rises Despite Trump Proposing New Tariffs
(RTTNews) - The German market is modestly higher Friday afternoon with investors picking up stocks despite Trump administration's announcement of a new round of tariffs that will take effect from October 1st.
The U.S. President has announced that he will impose import tariffs on pharmaceutical drugs, kitchen cabinets and bathroom vanities, upholstered furniture, and heavy trucks.
Investors are awaiting the crucial U.S. Personal Consumption Expenditure data due later in the day.
The benchmark DAX was up 93.86 points or 0.4% at 23,615.28 a little while ago.
Munich RE is rising more than 3%. Siemens is up nearly 2% and Allianz is gaining 1.7%. Hannover Rueck, Siemens Healthineers, Brenntag and Mercedes-Benz are advancing by 1 to 1.3%.
Heidelberg Materials, BMW, Siemens Energy, Fresenius Medical Care, Deutsche Bank, RWE and Fresenius are up with moderate gains.
Daimler Truck Holding is down 3.2%. Zalando is down with a loss of about 2.1% and Infineon Technologies is down 1.8%. Volkswagen, Merck, SAP, GEA Group and Rheinmetall are down 0.6 to 1%.
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