Markets

DAX Modestly Higher In Early Trade

(RTTNews) - German stocks eked out modest gains on Monday after U.S. House Speaker Nancy Pelosi set a Tuesday deadline for a stimulus pact to be hammered out and drug maker Pfizer Inc said it could have a coronavirus vaccine ready in the United States by the end of this year.

Meanwhile, U.S. President Donald Trump said Sunday he would be open to a stimulus package bigger than the $2.2 trillion proposed by Democrats.

"I want at a bigger number" than Pelosi. "That doesn't mean all the Republicans agree with me but I think they will in the end," Trump said.

The benchmark DAX edged up 38 points, or 0.3 percent, to 12,946 after climbing 1.6 percent on Friday.

Automakers BMW and Volkswagen were modestly higher after data showed China stepped up its economic recovery in the third quarter from the coronavirus shock.

Traton SE, a subsidiary of Volkswagen Group, said that it reached an agreement in principle to buy remainder of Navistar International Corp. stock it does not already own for $44.50 per share.

Steel producer Salzgitter declined 0.6 percent after it appointed Gunnar Groebler as its chief executive officer, effective July 1, 2021.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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