Manufacturing Boost Lifts German Stocks Off 4-Day Lows
(RTTNews) - Despite lingering concerns about Middle East tensions and elevated oil prices, German stocks edged higher on Friday, snapping a four-day losing streak, thanks to selective buying interest.
The benchmark DAX, which advanced to 26,090.49 from a low of 25,968.75, was up 18.95 points or 0.07% at 26,030.50 about a quarter past noon.
Continental, BMW, Hochtief, Volkswagen, RWE, Adidas, Siemens Energy, Mercedes-Benz and RWE gained 1%-2%.
Deutsche Post, Gea Group, BASF, Hannover RE, Siemens, Infineon, Munich RE, E.ON, Zalando and Deutsche Boerse moved moderately higher.
Shares of ticketing firm CTS Eventim dropped 1.3% after the company posted mixed second-quarter results.
Bayer shed about 2.1%. Qiagen dropped nearly 2% and MTU Aero Engines drifted lower by 1.7%. Fresenius Medical Care eased by about 1.4%, while Merck, Siemens Healthineers and Rheinmetall lost 0.6%-1%.
On the economic front, the S&P Global Germany Manufacturing PMI jumped to 54.1 in August 2026 from 52.2 in the previous month, surpassing market expectations of 52.0, according to preliminary estimates. It marked the seventh consecutive month of expansion and the strongest pace since May 2022.
Germany's S&P Global Flash Services PMI fell to 48.5 in August 2026 from 49.8 in July, missing market expectations of 50.1, preliminary data showed. The reading marked the fifth consecutive month of contraction and the fastest pace since May.
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