Feb. 16 at 6:15 PM
The DAX 40 in Frankfurt fell 0.46% on Monday to close at 24,800.91 points, in a session marked by low trading volumes as markets in China were closed for the Lunar New Year and in the United States for Presidents’ Day.
The decline was mainly driven by losses in Siemens, which dropped 6.4% to €234.95. Some analysts считают the stock overvalued and warn that its software business could be negatively affected by artificial intelligence. Shares in SAP fell 2% to €168.36, while chemicals distributor Brenntag declined 2.1% to €56.98.
Banks and telecom companies, however, posted gains. Deutsche Telekom rose 2.3% to €32.97 and Commerzbank gained 1.8% to €32.74. Heidelberg Materials advanced 2% to €192.15 following positive comments from JPMorgan Chase.
In the mid-cap MDAX index, construction group Hochtief, controlled by Spain’s ACS, jumped 5.6% to €391 after Jefferies highlighted the companies’ strong positioning to benefit from data center construction orders.
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