BRUSSELS (dpa-AFX) - The German market is modestly higher on Monday, as a U.S. appeals court ruling that many of Donald Trump's tariffs were illegal. Healthcare stocks are finding support after Danish pharma company Novo Nordisk's weight-loss drug Wegovy offered better heart-protective benefits than rival treatments from U.S.-based Eli Lilly.
The 7-4 ruling by the U.S. Court of Appeals for the Federal Circuit affirmed a lower court's finding that Trump had exceeded his authority in tapping emergency economic powers to impose wide-ranging duties.
At the same time, the judges allowed the tariffs to stay in place through mid-October, giving Trump time to take the fight to the Supreme Court.
Dutch pharma major Novo Nodisk said Wegovy cut the risk of heart attack, stroke or death by 57% versus Eli Lilly's rival medicines Mounjaro and Zepbound in a real-world comparison.
The benchmark DAX was up 74.85 points or 0.31% at 23,994.47 a little while ago.
Pharmaceutical stock Sartorius is up nearly 3% and Rheinmetall is gaining about 2.2%. Qiagen is up nearly 2%, while MTU Aero Engines, SAP and Continental are up 1.35%, 1.15% and 1.1%, respectively.
Siemens, BMW, Merck, Commerzbank, Fresenius, Deutsche Post, Henkel, Deutsche Telekom, Fresenius Medical Care and Mercedes-Benz are also up with notable gains.
Siemens Energy is declining 2.2%. Deutsche Bank is down 1.2%, while Bayer, E.ON, Hannover Rueck, Infineon Technologies and Daimler Truck Holding are down 0.3 to 0.7%.
In economic news, data from S&P Global showed Germany's HCOB Manufacturing PMI registered a reading of 49.8 in August 2025, slightly below the flash estimate of 49.9 but up from 49.1 in July. The reading marked the strongest level since mid-2022, when the index first dipped below the 50.0 threshold separating growth from contraction.
Data from Eurostat showed the euro area unemployment rate dropped marginally in July. The jobless rate registered 6.2% in July compared to 6.3% in June. In the same period last year, the unemployment rate was 6.4%.
Eurostat estimated that the number of people out of jobs decreased 170,000 from June to 10.805 million in July. Compared to last year, unemployment fell 161,000.
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