DAX Modestly Higher As Trade Tensions Ease After U.S. Court Ruling
2025-05-23
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(fxcue news) - German stocks are up in positive territory on Thursday amid easing trade tensions following a U.S. Federal Court ruling that President Donald Trump had overstepped his authority by imposing across-the-board duties on imports from U.S. trade partners.
U.S. chip maker Nvidia's upbeat earnings and guidance contribute as well to the positive sentiment in the market.
The court also quashed duties imposed by Trump on Canada, Mexico and China under an emergency-powers law.
The Trump administration has filed an appeal against the ruling. Meanwhile, China has urged U.S. to "fully cancel the wrongful unilateral tariff measures."
The benchmark DAX, which spurted to 24,300.00 in early trades, gave up a substantial portion of gains subsequently and was up 47.05 points or 0.2% at 24,114.11 a little while ago.
Infineon Technologies is up nearly 3%. Adidas is rising 2.75%. Daimler Truck Holding, Qiagen, Porsche, Sartorius, Continental and Commerzbank are up 1.5 to 2%.
Deutsche Bank, Deutsche Post, Henkel, Porsche Automobil, Bayer, Merck, BASF and Mercedes-Benz are also up with notable gains.
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Vonovia is down by about 4.3%. Zalando and Fresenius Medical Care are down 1.7% and 1.1%, respectively. Heidelberg Materials, E.ON, Deutsche Boerse and Symrise are down 0.6 to 1%.
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