DAX Rises More Than 1% On Oil Decline And German Reform Push
(RTTNews) - German stocks climbed notably higher on Monday amid falling oil prices and on German Chancellor Friedrich Merz's pledge to press ahead with reforms.
Oil prices fell sharply on hopes for diplomatic progress on the Middle East issue at this week's UN meeting.
Ahead of a crucial meeting between U.S. President Trump and Gulf-state leaders on the sidelines of the United Nations General Assembly, Trump warned Iran that it would fail economically or face its leadership being wiped out if it didn't make a deal.
Trump indicated potential for a meeting with Iranian President Masoud Pezeshkian in New York, adding that very big things could happen soon and he is in a "deciding mode" on military action, continued economic pressure or a deal.
Brent crude futures dropped to 101.19, losing more than 2.5%.
The benchmark DAX was up 280.35 points or 1.11% at 25,576.79 a few minutes past noon.
Infineon Technologies jumped 3.7%. Deutsche Post, Symrise and Siemens gained 3%, 2.7% and 2.5%, respectively.
MTU Aero Engines, Commerzbank, Siemens Energy, Continental, Scout24, Deutsche Boerse, Deutsche Telekom, Merck, SAP, Fresenius Medical Care, Deutsche Bank and Bayer climbed 1%-2%.
Vonovia and Volkswagen drifted down 1.6% and 1.25%, respectively. Adidas, Daimler Truck Holding, Heidelberg Materials and Rhenimetall edged modestly lower.
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