01.09.202516:18:32UTC+00DAX Snaps 5-Day Losing Run

The Frankfurt Stock Exchange saw the DAX index rise by approximately 0.6% to close at 24,023 on the first trading day of September, effectively breaking a five-day losing streak. This upturn was largely supported by gains in defense and pharmaceutical stocks. Investors evaluated a series of Purchasing Managers' Index (PMI) surveys while also anticipating key economic events later in the week, notably the Eurozone's inflation data and the United States' non-farm payroll figures. Domestically, Germany's S&P Global/HCOB Manufacturing PMI was revised to 49.8 for August, an improvement from July’s 49.1, although slightly below the preliminary estimate of 49.9. This represents the sector's most robust performance since mid-2022. Notable increases were seen in defense stocks, with Renk surging by 6.8%, Hensoldt by 5%, and Rheinmetall by 3.5%, following the United Kingdom's record-breaking £10 billion warship contract with Norway. Additional momentum came from remarks by EU President Ursula von der Leyen regarding potential troop deployments to Ukraine as part of future security commitments.