DAX Modestly Higher In Cautious Trade
(RTTNews) - German stocks are quite subdued Thursday morning, mirroring the trend across the region, as investors tread cautiously amid a lack of fresh catalysts. Worries about potential new tariffs by the Trump administration continue to weigh on investor sentiment.
Investors look ahead to U.S. President Donald Trump's keynote address at the World Economic Forum in Davos, Switzerland, later in the day for further direction.
The benchmark DAX is up 35.78 or 0.18% at 21,296.09
Shares of sportswear maker Puma are plunging more than 17% after the company announced a cost-cutting program after preliminary result showed a decline in operational profit. The operating result of € 109 million and the net income of € 24 million came in significantly above last year's levels, but below expectations.
Puma reported a currency adjusted sales growth of 9.8% to €2,289 million in the fourth quarter of 2024. On a full-year basis, sales grew by 4.4% to €8,817 million and in line with the outlook.
Qiagen and Porsche are lower by 1.2% and 1%, respectively. HeidelbergCement, Beiersdorf, Daimler Truck Holding, SAP, Vonovia, Mercedes-Benz and Infineon are modestly lower.
Rheinmetall is rising nearly 3%. Fresenius Medical Care is gaining 2.5%. Volkswagen, Fresenius, Bayer, Commerzbank, Allianz, Siemens Energy, Deutsche Bank and Deutsche Telekom are up 0.5 to 1.6%.
