Overview

• Broker IG projects a 0.3% firmer start near 23,598 for the German benchmark, reducing but not erasing the prior session’s dip.
• The DAX slipped 0.5% to 23,527 on Monday as autos slumped after guidance cuts, with Porsche SE down 8.2%, Volkswagen preferred shares off 7.1% and Porsche AG lower by 7.3%.
• Fresh peaks for the Dow, S&P 500 and Nasdaq followed the Fed’s first 2025 rate cut and were bolstered by Nvidia’s plan to invest up to $100 billion in OpenAI data centers.
• The September rebalancing is now active, adding Scout24 and Gea to the DAX and removing Porsche and Sartorius, while Fielmann moves up to the MDAX.
• Other movers-to-watch include an FT-reported Pfizer approach for Metsera worth up to $7.3 billion, Vodafone’s plan to end 2G voice from September 2028, a Stellantis customer-data incident in North America, and Rheinmetall’s job assurances tied to a potential NVL deal.