FX.co ★ DAX Gains Ground

Germany's DAX index experienced a robust increase, advancing by 1.8% to soar past the 24,250 threshold on Monday afternoon. This climb effectively reversed the sharp declines observed on Friday, with the defense sector spearheading widespread market advancements. Notably, companies such as Hensoldt climbed by 6.6%, Rheinmetall by 5.7%, and Renk by 4.7%. These gains occurred against the backdrop of Ukrainian President being pressured by former US President Donald Trump to acquiesce to Vladimir Putin's demands to conclude the conflict, dampening hopes for a resolution. Concurrently, the ceasefire in Gaza remains precarious. Market sentiment received an additional boost from Trump's more conciliatory approach towards China. A fresh round of trade discussions is scheduled to take place in Malaysia this week, involving US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.