DAX Slips Into Red Ahead Of PMI Data

2024-12-01 1625
(fxcue news) - German stocks traded slightly lower on Monday ahead of manufacturing Purchasing Managers' survey results from Germany and the euro area, due out later in the day. The euro declined versus a strengthening dollar as investors fretted about the latest political developments in France. France's far-right National Rally (RN) party, led by Jordan Bardella and Marine Le Pen, is poised to back a no-confidence motion against Prime Minister Michel Barnier's government due to disagreements over budget demands. The benchmark DAX was down 24 points, or 0.1 percent, at 19,602 after rallying 1 percent on Friday. Delivery Hero SE shares slumped 7 percent. Under pressure from the Spanish authorities and to avoid further legal uncertainties, the food delivery company said that Glovo is moving from a freelance model to an employment model.
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