German DAX Experiences Significant Growth

On Monday, Germany's DAX index saw a remarkable increase of over 1%, following an announcement by Rheinmetall AG, a leading German arms manufacturer. The company revealed a substantial order from the Bundeswehr, Germany's military, for nearly 1,400 military logistics vehicles, valued at approximately €700 million. Deliveries are anticipated to be completed by the end of 2025.

Market Reactions Across Europe

By 1:49 pm CET, the DAX had climbed by 1.3%, or 303 points. Similarly, the FTSE 100 and CAC 40 indices also experienced gains, increasing by 0.41% and 0.82% respectively around the same time. The Euro Stoxx 50 wasn't left behind, rising by 1.29% by 1:55 pm CET.

Currency Movements

At 2:00 pm CET, the euro saw a slight decrease of 0.17% against the dollar, trading at $1.15667. Conversely, the British pound appreciated by 0.11% against the dollar, reaching $1.32927 shortly after.