FX.co ★ DAX Extends Gains and Outperform

On Monday, Frankfurt's DAX index rose approximately 0.9% to around 23,990, leading its regional counterparts with a positive performance. This upward movement is fueled by growing optimism regarding a potential trade agreement between the European Union and the United States. The European Union announced it is closing in on a trade framework deal with the US, following a phone discussion between European Commission President Ursula von der Leyen and US President Donald Trump. The agreement could solidify duties at around 10% on various products, with ongoing negotiations potentially including adjustments on a 25% car tariff that is currently impacting Germany's automotive sector. Domestically, Germany's industrial production increased by 1.2% in May, surpassing market predictions of no change and recovering from a revised 1.6% drop in April. Notable gainers on the DAX included Heidelberg Materials, Commerzbank, Siemens Energy, Adidas, Allianz, and SAP, each climbing between 1.5% and 2.5%. In contrast, Merck and RWE saw declines of 1.8% and 0.9%, respectively.