German stocks saw a slight increase on Monday, paralleled by a rise in inflation in four of Germany's key states in April, according to recent data. The impending release of national inflation data may affect trading trends, leading up to Tuesday's Euro zone inflation data disclosure.
Friday's 1.4% increase left the DAX, a key German stock index, 32 points or 0.2% higher on Monday at 18,193 points.
In corporate updates, shares in Deutsche Bank plummeted by 5.2%. This was influenced by the lender's recent revelations concerning ongoing legal proceedings related to its acquisition of Postbank. Deutsche Bank stated that a legal provision will negatively impact profitability for both the second quarter and the entire fiscal year, in addition to affecting its capital ratios.
The cumulative claims resulting from these legal troubles, which include accrued interest, amount to an estimated total of roughly 1.3 billion euros.
