02.02.202614:38:48UTC+00DAX Moves Higher

The DAX 40 index in Frankfurt experienced an upswing, climbing 0.9% by Monday afternoon, mirroring the positive trend across European markets, despite initially opening lower. This rise was supported by strong manufacturing activity in Europe's major economies, which boosted investor confidence during a week primarily focused on earnings announcements and the European Central Bank's policy decision. Additionally, investors were factoring in Kevin Warsh’s potential appointment as Federal Reserve Chair. Although aligned with Trump, Warsh is anticipated to uphold the central bank's independence. In terms of specific stocks, Adidas, Deutsche Telekom, Hannover Rück, and Allianz saw notable gains, each rising over 2%. However, defense sector stocks were hit by significant selling activities, with Hensoldt, Renk, and Rheinmetall declining by 2.8%, 2.2%, and 1.1%, respectively.