DAX Up Marginally; Merck, Infineon Among Top Gainers

(RTTNews) - The German market's benchmark DAX was up in positive territory at noon on Wednesday, extending previous session's modest upmove. Data showing strong Eurozone private sector growth in November helped underpin sentiment.

The benchmark DAX, which climbed to 23,847.55 earlier in the session, was up 39.78 points or 0.17% at 23,749.65 at noon.

Merck gained 3.3%, while Continental and Infineon Technologies climbed 3.2% and 2.6%, respectively.

E.ON, Volkswagen, Heidelberg Materials and Rheinmetall gained 1.2 to 2%, while Zalando, BMW, Porsche Automobil Holding, MTU Aero Engines and Siemens were up 0.5 to 1%.

Allianz, Hannover Rueck, Deutsche Boerse and Commerzbank lost 1 to 1.4%, while Munich RE, Deutsche Bank and BASF were down 0.6 to 0.8%.

Hugo Boss shares plunged more than 11%.. The German fashion group said it expects falling sales and profits for 2026 before returning to growth from 2027.

On the economic front, Eurozone private sector logged its strongest growth since May 2023 as both manufacturing and service sectors showed expansion in output, final data from S&P Global revealed.

The HCOB final composite output index rose to 52.8 in November from 52.5 in the previous month. The reading was above the initial score of 52.4.

The survey showed stronger services momentum in November, while factory output growth moderated to a nine-month low.

The HCOB services Purchasing Managers' Index climbed to 53.6 from 53.0 in the previous month. The flash reading was 53.1.

The French economy reported its first expansion in 15 months, while German growth moderated from October's 29-month peak.

Germany's private sector growth lost momentum in November but the overall expansion remained strong due to the rise in both manufacturing and services output.

The composite output index hit 52.4 in November, down from 53.9 in October and the initial score of 52.1. The services PMI came in at 53.1, down from a 29-month high of 54.6 in October. The initial reading was 52.7.