The DAX lost 0.15% on Monday, closing at 26,006.53 points, a modest decline that kept the benchmark just above the psychologically important 26,000 level. The index had risen to 26,167 points on Friday before giving back gains ahead of its 21‑day moving average, a short‑term technical trend line.
The mid‑cap MDAX edged higher, gaining 0.15% to 32,405.44 points.
On the commodity side, Brent crude for November delivery traded above $97 a barrel as geopolitical tension between the United States and Iran kept oil markets volatile. A core group of seven OPEC+ members confirmed over the weekend that they will not raise October production targets. Goldman Sachs co‑head of global commodities research Daan Struyven warned that expanded attacks on shipping could push Brent toward $120 a barrel.
German equities saw mixed sector moves. Semiconductor stocks led gains; Infineon surged nearly 7% after Warburg Research issued a buy recommendation, while peers Elmos, Aixtron, Suss Microtec and Siltronic also posted advances. Space‑technology firm OHB rose 2% after stabilising from a recent year‑low, following Isar Aerospace’s successful test flight that placed five satellites in orbit.
Energy stocks benefited from analyst upgrades. UBS upgraded EON to buy, lifting the utility by just over 1%, and RWE climbed about 2%. Wind‑turbine manufacturer Nordex jumped 10% after Bank of America issued a buy rating, propelling it to the front of the MDAX.
Political headlines included the AfD’s victory in Saxony‑Anhalt and internal challenges for the CDU, but investors remained focused on upcoming monetary‑policy decisions. Market consensus expects the European Central Bank to raise its key rate by 0.25 percentage points on Thursday, reaching 2.5%. In the United States, most analysts anticipate a Fed rate hike next week, with Friday’s inflation data seen as a key determinant.
The broader European market was modestly higher. The Euro Stoxx 50 gained 0.17% to 6,403.99 points. Outside the euro zone, the UK FTSE 100 slipped slightly and the Swiss SMI fell more noticeably.
Analyst Alexander Jones highlighted the resilience of German exporters, noting strong US order flow and a stable supply chain as supporting factors for the market’s recent momentum.
