24.06.2024 10:52:20 - dpa-AFX: DAX Gains As Automakers Surge

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks advanced on Monday as
Beijing and Brussels took the 'first step' towards resolving a months-long trade
dispute over Chinese electric cars with new talks.

Investors shrugged off survey results from the ifo Institute showing that
Germany's business sentiment softened in June.

The business confidence index fell to 88.6 in June from 89.3 in May. Analysts
has forecast a score of 89.7.

Assessment of current situation remained unchanged, while expectations among
companies deteriorated in June.

The benchmark DAX was up 104 points, or 0.6 percent, at 18,267 after declining
half a percent on Friday.

Automakers BMW, Mercedes Benz and Volkswagen rallied 2-3 percent after China and
the European Union have agreed to start talks on the bloc's plans to impose
tariffs on electric vehicles imported from the Asian nation.

Online retailer Zalando plunged 6.4 percent after Morgan Stanley cut its rating
on the stock to 'equal weight' from 'overweight'.



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Copyright RTT News/dpa-AFX
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
CAC 40 969400 Paris 7.489,91 28.06.24 16:33:30 -40,81 -0,54% - - 7.544,40 7.530,72
FTSE 100 969378 Financial Times SE 8.195,51 28.06.24 16:33:44 +15,83 +0,19% - - 8.179,68 -
DAX ® 846900 Xetra 18.288,81 28.06.24 16:33:44 +78,26 +0,43% - - 18.211,97 18.210,55
E-STOXX 50 ® 965814 STOXX Ltd. 4.908,42 28.06.24 16:33:30 +5,82 +0,12% 0,000 - 4.909,30 4.902,60

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