German DAX Index Blinks Green; Commerzbank Down After Rejecting Takeover Offer
Idag, 17:58
11:58 AM EDT, 05/18/2026 (MT Newswires) -- German equities rose on Monday, with the blue-chip DAX index closing 1.49% higher, as investors assessed the possibilities of renewed escalation in the Middle East alongside Commerzbank's (CBK.F) formal rejection of UniCredit's takeover bid.
On Sunday, US President Donald Trump urged Iran to fast-track a peace deal in a post on his social media platform Truth Social. Axios reported, citing two unnamed US officials, that Trump is planning to meet his top national security team on Tuesday to discuss potential military options.
Sentiment was further dampened by reports of a drone-induced fire at a nuclear site in the United Arab Emirates on Sunday and the interception of three drones by Saudi Arabian forces.
"For markets, the ongoing closure of the Strait of Hormuz and the prospect of a fresh escalation [have] pushed oil prices higher this morning. Brent crude is up +1.77% to a two-week high of $111.19 [per barrel]. And it's clear that investors are pricing in a more protracted conflict, as the 6-month Brent future is also up to $92.14/bbl this morning, which would be its highest closing level since the conflict began,"Deutsche Bank Research wrote.
On the economic front, key updates coming later in the week include Germany's April producer price index data due on Wednesday, euro area preliminary S&P Global PMIs for May coming on Thursday, and Friday's GfK consumer confidence and ifo business climate survey results for the eurozone's largest economy.
In corporate news, Commerzbank (CBK.F) urged shareholders to reject Italian lender UniCredit's unsolicited exchange offer. It added that the implied value of the bid, offering 0.485 UniCredit shares per Commerzbank share, remains uncertain, with settlement not expected until 2027 and dependent on UniCredit's share performance. The German bank lost 1.48% at the end of the session.
Meanwhile, BofA Global said it is "more bullish"on Siemens Energy (ENR.F) following the publication of the company's fiscal second-quarter performance.
"We view last week's results as incrementally bullish, vs mixed investor feedback, reinforcing ENR as one of our top picks: (1) ENR's slot strategy implies mgmt are more bullish on Gas [original equipment] demand, (2) this is supported by datapoints incl. new backlog guidance, (3) extra EUR1bn buyback confirms proactive capital allocation. Stepping back, we think caution based on a possible 'peak'in Gas OE GW orders ignores backlog duration is still rising, and group orders will keep growing. Our EUR250 PO implies >45% upside potential. Maintain Buy,"the research firm wrote. The German energy technology company was up 0.21%.
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German DAX Index Blinks Green; Commerzbank Down After Rejecting Takeover Offer
Idag, 17:58
11:58 AM EDT, 05/18/2026 (MT Newswires) -- German equities rose on Monday, with the blue-chip DAX index closing 1.49% higher, as investors assessed the possibilities of renewed escalation in the Middle East alongside Commerzbank's (CBK.F) formal rejection of UniCredit's takeover bid.
On Sunday, US President Donald Trump urged Iran to fast-track a peace deal in a post on his social media platform Truth Social. Axios reported, citing two unnamed US officials, that Trump is planning to meet his top national security team on Tuesday to discuss potential military options.
Sentiment was further dampened by reports of a drone-induced fire at a nuclear site in the United Arab Emirates on Sunday and the interception of three drones by Saudi Arabian forces.
"For markets, the ongoing closure of the Strait of Hormuz and the prospect of a fresh escalation [have] pushed oil prices higher this morning. Brent crude is up +1.77% to a two-week high of $111.19 [per barrel]. And it's clear that investors are pricing in a more protracted conflict, as the 6-month Brent future is also up to $92.14/bbl this morning, which would be its highest closing level since the conflict began,"Deutsche Bank Research wrote.
On the economic front, key updates coming later in the week include Germany's April producer price index data due on Wednesday, euro area preliminary S&P Global PMIs for May coming on Thursday, and Friday's GfK consumer confidence and ifo business climate survey results for the eurozone's largest economy.
In corporate news, Commerzbank (CBK.F) urged shareholders to reject Italian lender UniCredit's unsolicited exchange offer. It added that the implied value of the bid, offering 0.485 UniCredit shares per Commerzbank share, remains uncertain, with settlement not expected until 2027 and dependent on UniCredit's share performance. The German bank lost 1.48% at the end of the session.
Meanwhile, BofA Global said it is "more bullish"on Siemens Energy (ENR.F) following the publication of the company's fiscal second-quarter performance.
"We view last week's results as incrementally bullish, vs mixed investor feedback, reinforcing ENR as one of our top picks: (1) ENR's slot strategy implies mgmt are more bullish on Gas [original equipment] demand, (2) this is supported by datapoints incl. new backlog guidance, (3) extra EUR1bn buyback confirms proactive capital allocation. Stepping back, we think caution based on a possible 'peak'in Gas OE GW orders ignores backlog duration is still rising, and group orders will keep growing. Our EUR250 PO implies >45% upside potential. Maintain Buy,"the research firm wrote. The German energy technology company was up 0.21%.
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