FX.co ★ DAX Starts Week on Strong Note

On Monday, the DAX index in Frankfurt climbed approximately 0.7% to reach 23,750, leading its regional counterparts. This uptick was driven by renewed optimism within Germany's manufacturing sector following the first increase in industrial production in four months, witnessed in July. Positive investor sentiment was further encouraged by increasing expectations of an impending Federal Reserve rate cut this month, despite lingering political uncertainties in France. Within the corporate sphere, Siemens, Infineon Technologies, and SAP emerged as notable gainers, each rising between 0.8% and 1.6%. This uplift can be attributed to a favorable outlook for European tech, spurred by reports indicating that ASML is poised to acquire a significant stake in the French artificial intelligence startup, Mistral AI. Additionally, shares in Rheinmetall, Renk, and Hensoldt saw gains of approximately 2%, as the escalation of geopolitical tensions in Ukraine and the Middle East heightened the demand for defense-related stocks.