Stock Markets February 9, 2026

German Equities Finish Higher; DAX Climbs 1.15% as Industrials and Tech Lead Gains

Frankfurt session saw broad advances with select healthcare and tech names lagging; volatility and commodity markets moved alongside stocks

By Derek Hwang
German Equities Finish Higher; DAX Climbs 1.15% as Industrials and Tech Lead Gains

German stock indices closed higher on Monday, led by gains in industrials, software, and transportation and logistics names. The DAX rose 1.15%, the MDAX added 0.87% and the TecDAX advanced 0.25%. Market breadth was positive on the Frankfurt exchange, while the DAX volatility gauge eased and several commodity and currency benchmarks moved notably.

Key Points

  • Major German indices closed higher - DAX +1.15%, MDAX +0.87%, TecDAX +0.25% - driven by gains in Industrials, Software and Transportation & Logistics.
  • Notable DAX winners included Commerzbank (+4.23%), Siemens Energy (+3.88%) and Rheinmetall (+2.77%); largest DAX laggards included Fresenius Medical Care (-2.09%), Siemens Healthineers (-1.45%) and Deutsche Boerse (-1.40%).
  • Volatility and commodities moved materially - the DAX volatility index fell 9.47% to 18.90, gold futures rose 2.28% to $5,093.54/oz, and oil benchmarks increased to $64.64 (WTI) and $69.22 (Brent).

Germany's major equity benchmarks ended the trading day in positive territory on Monday, with the DAX posting a 1.15% gain at the close in Frankfurt. The MDAX climbed 0.87% and the TecDAX rose 0.25% as sectors including Industrials, Software and Transportation & Logistics contributed to the advance.


Among individual DAX constituents, Commerzbank AG O.N. (ETR:CBKG) led the winners, finishing up 4.23% - a rise of 1.44 points to 35.45. Siemens Energy AG (ETR:ENR1n) was also strong, adding 3.88% or 5.90 points to close at 157.90, while Rheinmetall AG (ETR:RHMG) increased 2.77%, gaining 44.50 points to end the day at 1,649.00.

On the downside within the headline index, Fresenius Medical Care KGAA ST (ETR:FMEG) was the weakest performer, sliding 2.09% or 0.85 points to finish at 39.79. Siemens Healthineers AG (ETR:SHLG) declined 1.45% or 0.60 to close at 40.80, and Deutsche Boerse AG (ETR:DB1Gn) fell 1.40% or 3.00 points to 211.50.


The MDAX session featured notable movers at both ends of the board. RENK Group AG (ETR:R3NK) was the top MDAX gainer, up 5.68% to 57.48. Hensoldt AG (ETR:HAGG) rose 4.63% to settle at 81.35, and Aixtron SE (ETR:AIXGn) added 3.94% to close at 21.12.

Conversely, Delivery Hero AG (ETR:DHER) recorded the largest MDAX decline, dropping 7.41% to 22.13. Bechtle AG (ETR:BC8G) lost 4.84% to finish at 36.16, and Sartorius AG VZO O.N. (ETR:SATG_p) fell 2.88% to 232.70 at the close.


In the TecDAX, Hensoldt AG (ETR:HAGG) again featured among the top performers, rising 4.63% to 81.35. SUSS MicroTec SE (ETR:SMHNn) was up 4.49% to 48.40 and Elmos Semiconductor AG (ETR:ELGG) climbed 4.09% to end at 122.20. The weakest TecDAX names included Bechtle AG (ETR:BC8G), down 4.84% to 36.16, Cancom SE O.N. (ETR:COKG), off 3.99% to 24.05, and Sartorius AG VZO O.N. (ETR:SATG_p), down 2.88% to 232.70.


On market internals, advancing issues outnumbered decliners on the Frankfurt Stock Exchange, with 377 stocks rising, 256 declining and 23 ending unchanged.

There were several notable price milestones during the session. Shares of Siemens Energy AG (ETR:ENR1n) reached new all-time highs, rising 3.88% or 5.90 to 157.90. Elmos Semiconductor AG (ETR:ELGG) also hit an all-time peak, gaining 4.09% or 4.80 to reach 122.20. By contrast, Siemens Healthineers AG (ETR:SHLG) fell to five-year lows, dropping 1.45% or 0.60 to 40.80.

Volatility as measured by the DAX volatility index eased during the session, with the index down 9.47% to 18.90.


Commodity and currency markets moved alongside equities. Gold futures for April delivery rose 2.28%, a gain of 113.74 to $5,093.54 a troy ounce. In energy markets, crude oil for March delivery increased 1.72% or 1.09 to $64.64 a barrel, while the April Brent contract added 1.72% or 1.17 to trade at $69.22 a barrel.

In currency trading, EUR/USD was up 0.71% to 1.19, while EUR/GBP was effectively unchanged at 0.31%, quoted at 0.87. The US Dollar Index Futures fell 0.66% to 96.86.


This session's price action left a mixed picture at individual stock level despite broad gains in the main indices, with several industrial and technology names advancing while select healthcare and technology-service stocks declined.

Risks

  • Individual stock weakness persisted in parts of the healthcare and IT-services sectors - examples include Fresenius Medical Care and Siemens Healthineers, which could weigh on sector indices.
  • Sector and single-name volatility remains present despite the broad market advance, as indicated by the session's mix of strong winners and notable decliners across the MDAX and TecDAX.
  • Movements in commodities and currencies - including sharp moves in gold, oil and EUR/USD - introduce variable inputs for companies exposed to commodity prices and FX, which may affect earnings sensitivity.

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