DAX Down Marginally In Cautious Trade

(RTTNews) - German stocks turned in a mixed performance on Monday with investors closely following the developments on the geopolitical front in addition to digesting regional economic data.

Elevated bond yields amid growing political instability in Europe weighed on sentiment, prompting investors to tread cautiously.

The benchmark DAX, which dropped to 25,143.54 after climbing to 25,343.50 earlier in the day, was down 32.41 points or 0.13% at 25,198.79 a little while ago.

Continental climbed 1.6%. Mercedes-Benz, Deutsche Telekom, SAP, Fresenius Medical Care, Fresenius and BMW gained 0.8%-1.1%.

Daimler Truck Holding, Volkswagen, Deutsche Boerse, Rheinmetall, Allianz, Munich RE, Deutsche Bank and Brenntag also moved higher.

Hochtief, Qiagen and Siemens Healthineers dropped more than 1.5%. Siemens, Infineon Technologies, Merck, Siemens Energy, RWE and Adidas shed 0.9%-1.25%.

Deutsche Post, Adidas, GEA Group, Bayer and MTI Aero Engines also showed weakness.

Data from S&P Global showed the S&P Global Germany Composite PMI rose to 53.8 in September from 51.8 in August, matching preliminary estimates and signaling the strongest expansion in almost a year. Growth was broad-based and led by manufacturing, which also drove increases in new business and export sales. Meanwhile, the services sector returned to expansion, with the Business Activity Index rising to 52.9 from 49.7 in August, marking its highest reading since just before the Middle East conflict began in February.

Data released by Eurostat showed Eurozone producer price inflation accelerated in August with prices increasing 8.2% on a yearly basis, following July's 5.8% rise. Economists had forecast an annual growth of 8.1%.

On a monthly basis, producer prices grew 1.9%, in line with expectations, and faster than the 1.6% rise posted in July.

Producer prices in the EU climbed 1.9% on a monthly basis and advanced 8% from the previous year.