European Stock Exchanges Are Rising: Germany's Economic Uncertainties

Weighted Buying Trend in European Stock Markets

Today, a generally positive atmosphere prevails in European stock markets, while only investors in Germany are facing selling pressure. As of 10:50, the Stoxx Europe 600 benchmark index rose by 0.2% to 570.2 points.

Germany's DAX 40 Index Declining

The DAX 40 index in Germany has attracted attention by declining 0.1% to 24,370 points. This decrease is attributed to Germany's economic data falling below expectations and ongoing uncertainties. As of August, it was reported that factory orders in Germany decreased by 4.3% month-on-month and 3.9% year-on-year.

Other European Stock Markets Rising in Italy, Spain, and France

In Italy, the FTSE MIB 30 index increased by 0.4% to reach 43,230 points, while in Spain, the IBEX 35 rose by 0.4% to 15,600 points. In France, the CAC 40 index is trading with a gain of 0.2% at 7,990 points. In the UK, the FTSE 100 index climbed by 0.3% to 9,510 points.

EU's Protection Plan for the Steel Sector

The European Commission has publicly announced a protection plan to address the issue of global overcapacity in the steel sector. Under this plan, the volume of duty-free imports of steel will be limited to 18.3 million tons annually, which will be reduced by 47% according to the 2024 steel quotas. Additionally, non-quota tax rates will be doubled to 50%.

Global Market Uncertainties in the U.S.

In global markets, the continued shutdown of the U.S. government is raising investors' concerns. These uncertainties may deepen further with the Federal Open Market Committee (FOMC) meeting minutes to be announced by the Federal Reserve (Fed). Additionally, weekly mortgage applications data is a highlight on today's U.S. economic agenda.