FX.co ★ DAX Starts December on Weak Note

On the opening day of December, Germany's DAX index decreased by approximately 0.7%. This decline followed a profit-taking phase after the index experienced a notable increase of over 3% the previous week, compounded by a weak performance in November. Investors were also keeping a close eye on a series of economic reports, including the final manufacturing PMI surveys. Defense sector stocks, such as Hensoldt, Rheinmetall, and Renk, faced declines between 2.5% and 3.5%. This drop came as U.S. and Ukrainian officials engaged in "productive" discussions on Sunday surrounding a possible peace agreement between Russia and Ukraine. Additionally, shares of Airbus fell by more than 2% following the company's announcement on Friday about a significant recall of A320 aircraft due to a software malfunction.