FX.co ★ DAX Extends Recent Gains

Frankfurt’s DAX 40 climbed over 0.5% to around 25,220 points on Monday, building on Friday’s gains as easing oil prices and lower bond yields continued to bolster risk appetite. Investors are bracing for a busy week, with the US earnings season kicking off as major banks report results. A number of European companies are also scheduled to publish their quarterly figures, while upcoming US inflation data will be scrutinized for signals on the Federal Reserve’s next policy steps. In Germany, politics is in focus after Bärbel Bas announced she will step down as Labour Minister and as leader of the Social Democratic Party.

At the stock level, Volkswagen advanced 1.6% ahead of an investor update and the release of its third-quarter sales figures, while Nordex reported a sharp year-on-year increase in orders. Meanwhile, Goldman Sachs cut its rating on Aroundtown to “Sell” from “Neutral,” and Nagarro is set to exit the small-cap index after India’s Persistent Systems acquired roughly 94% of its shares.