German Stocks Trend Higher

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German Stocks Trend Higher

Dax Gains 0.66% As German Stocks Trend Higher

Most of the German stocks are trending higher on Monday, with tech, telecom, and food sectors leading the charge. By the end of the trading day, the DAX gained 0.66%, while the MDAX jumped by 0.18%.

TecDax also joined the party with a gain of 0.92% during the Monday's session. The overall sentiment remains positive in the Germany equity market.

German Stocks Move Higher On Positive Sentiment

If we talk about individual stocks, Rheinmetall AG gained 2.20%, while Infineon Technologies AG NA O.N. jumped by 2.07% during the session. Similarly, Airbus Group SE also recorded gains of around 1.61% during the day.

On the flip side, the Dr Ing hc F Porsche AG was not so fortunate as it lost 2.03% of its value. Similarly, BASF SE NA O.N. also shed 0.69 points, equivalent to 1.46% of the stock value.

Fresenius Medical Care KGAA ST was the top performer from the MDAX with gains of 1.89%. Another big name was Nemetschek AG O.N., which jumped by 1.88% during the session.

While most of the stocks on the DAX index were green, the volatility actually moved lower during the session. The DAX volatility index showed a decline of 4.24% on Monday.

That's one of the reasons why the DAX only gained 0.66% during the day despite the positive sentiment. On the other side, the US economy seems to be breathing a little easier after the recent rate cut.

However, the US elections outcome will also have long-lasting effects on the DAX. After all, the US economy is still big enough that it can effect all the other stock markets in the world.

Gold Futures (December) also seems to be under pressure and has shed 13.10 or around 0.49% of its value. The contract was last seen trading near $2663.20 with a bearish bias in the short term.

Meanwhile, the Crude Oil (November) contract is trading at $73.73 with a -2.41% change for the day. It seems that both the precious metals and the commodities are under pressure right now.

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