FX.co ★ DAX Climbs After PMI Data

German stocks experienced gains on Monday following a survey indicating continued stabilization in the country's manufacturing sector during May.

The HCOB's final Purchasing Managers' Index (PMI) for German manufacturing increased to 45.4 in May, up from April's 42.5. This uptick aligns with the initial flash estimate, reflecting a slower decline in both output and new orders compared to the previous month.

The DAX, Germany's benchmark stock index, climbed 134 points, or 0.7%, reaching 18,632 after a modest rise on Friday.

In the banking sector, performance was mixed: Commerzbank saw a decline of 0.8%, while Deutsche Bank experienced an increase of 1.4%.

Among automakers, BMW, Mercedes-Benz, and Volkswagen posted gains ranging from 0.5% to 1.2%.

Shares of Vossloh AG saw a slight increase after the rail infrastructure manufacturer announced that its Chinese subsidiary, Vossloh Fastening Systems China Co. Ltd., secured an order for rail fastening systems for a segment of a high-speed rail line under construction in China.