BRUSSELS (dpa-AFX) - Despite paring some early gains, Germany's equity benchmark DAX remained in positive territory Friday morning, led by gains in defense stocks amid lingering geopolitical tensions and prospects of higher military spending. Automobile stocks were the other notable gainers.
Data showing a contraction in Germany's manufacturing activity in the month of December weighed on stocks.
The market, which remained shut on Wednesday and Thursday, resumed trading this morning.
The DAX, which climbed to 24,691.11 earlier in the session, was up 28.20 points or 0.12% at 24,518.61 a little while ago.
MTU Aero Engines and RWE gained 2.3% and 2.2%, respectively. Volkswagen moved up 1.7%, while Siemens Energy, Bayer, BMW, Mercedes-Benz and Rheinmetall gained 1 to 1.5%.
Infineon, GEA Group, Deutsche Telekom, E.ON, Porsche Automobil Holding, Deutsche Bank and Scout24 posted moderate gains.
Vonovia, Qiagen, Hannover Rueck and Fresenius Medical Care lost 1 to 1.5%. Munich RE, Daimler Truck Holding, Siemens Healthineers, Symrise and Fresenius also drifted lower.
Data from S&P Global showed the HCOB Germany Manufacturing PMI fell to 47 in December from 48.2 in November and below the preliminary estimate of 47.7, signalling the sharpest contraction in ten months.
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