The German equity market is once again showing resilience – effectively withstanding selling pressure. The DAX spot index has recovered part of its earlier losses and is down only 0.18%, while DE40 futures are posting modest gains in the 0.3–0.4% range ahead of key U.S. macroeconomic data (NFP report at 12:30 PM GMT). The pullback in German defense stocks such as Rheinmetall, RENK, and Hensoldt appears to be driven mainly by profit-taking after previous rallies.
- Fraport and space-laser company Mynaric lead gains on the German stock market
- Shares of Fraport and Mynaric are leading the list of gainers on the German stock exchange. In contrast, defense companies such as Rheinmetall, RENK Group, and Hensoldt are trading lower, with losses ranging from -1.5% to -3%. Nevertheless, according to Bloomberg, German defense firms continue to show stronger earnings momentum than their American counterparts.
- Tesla ADRs (TSLA.DE) are down over 7% today, extending yesterday’s sell-off.
- Eurozone GDP revision came in above expectations, and retail sales surprised to the upside on a year-over-year basis, although they slightly missed forecasts month-over-month.
There have been no significant developments that would directly weaken sentiment toward the German defense sector. Yesterday, Chancellor Friedrich Merz met with Donald Trump – both leaders expressed their intention to strengthen transatlantic cooperation, although details of the talks have not been disclosed. Trump received an invitation to visit Germany, and the main topics discussed were trade, the G7, and NATO.
DE40 (Daily Interval)
The key resistance level for the DE40 index, based on price action analysis, is currently around 24,500 points. Important support lies in the 23,600-point area.
Source: xStation5
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