German stocks rose on Monday, though the upside remained capped after a survey showed the country’s economic downturn deepened in October as a result of higher energy costs.
The flash S&P Global composite purchasing managers’ index slipped to 44.1 from 45.7 in September, the lowest since May 2020, when the country was under a COVID lockdown. The flash services PMI fell to 44.9 from 45.0.
Italian political developments were also in focus after Giorgia Meloni was sworn in as the country’s first woman prime minister on Saturday.
The benchmark DAX was up 0.3 percent at 12,763 after declining 0.3 percent on Friday. Travel-related and banking stocks were among the prominent gainers.
Euro zone bond yields fell today amid expectations that central banks might slow the pace of monetary tightening early next year.
DAX Edges Higher In Cautious Trade
2022-10-24 09:07:31
