The DAX 40 ended Monday’s session virtually unchanged at 26,320, holding near record highs as strength in financials and select industrials offset weakness in telecommunications and consumer stocks. QIAGEN advanced 5.1% after Deutsche Bank reiterated its “Buy” rating, while Infineon rose 2.3% following the launch of a limited-term share buyback program. Siemens Energy gained 1.5%, tracking US power producers with significant exposure to power-intensive AI infrastructure. Financials generally outperformed, with Allianz up 1.1% after announcing plans to reduce supplier coverage for Vistry by up to 70%.
On the downside, Deutsche Telekom led the laggards, dropping 3.2% after reports that its US subsidiary, T-Mobile US, had eliminated more than 4,500 jobs in the first half of the year. Beiersdorf and Brenntag each declined 2.2%, while Bayer slipped 1.3% and Hannover Re eased 0.3%.
