Frankfurt’s DAX 40 slipped into negative territory on Monday, closing about 0.5% lower at 24,812 and underperforming its European peers. The index was weighed down in particular by Siemens, which dropped more than 6% amid concerns related to artificial intelligence. Other notable decliners included SAP (-2%), Infineon Technologies (-0.7%), and Scout24 (-1%), reflecting the broader market weakness.
On the positive side, Zalando was the session’s top performer, gaining 3.1%. Building materials stocks were also in favor: Heidelberg Materials advanced nearly 1% after JPMorgan reaffirmed its Buy rating and EUR 260 price target. The banking sector lent additional support, with Commerzbank up 1.8% and Deutsche Bank rising 0.6%.
Defense stocks extended gains as well. Renk climbed 1.9% and Rheinmetall added 0.7%, bolstered by the outcome of the Munich Security Conference, where European leaders advocated increased defense spending and greater strategic autonomy.
