DAX barely moves at the start of the week: Investors remain near record level

German industrial orders surprise positively

A positive surprise came from German industrial orders, which rose significantly more than expected in May, indicating a stabilization of the manufacturing sector. As reported by the Federal Statistical Office, orders in May rose by 1.9 percent compared to April. Economists surveyed by Reuters had on average expected an increase of only 1.5 percent. In April, orders were revised down by 3.2 percent, after a previously reported decline of 3.8 percent.

Data in focus: Sentix and ISM

In the morning, attention turned to the Sentix Investor Confidence for the euro zone, which provides insight into the current sentiment of institutional and private investors. In the afternoon, the ISM Index for the US services sector follows as one of the most important early indicators for the American economy. In pre-market trading in the US, a mixed picture emerged: while the Dow Jones is likely to post a moderate gain, the S&P 500 and Nasdaq 100 are expected to be somewhat weaker.

Continental sells ContiTech and announces capital return

Among individual stocks, acquisitions and strategic realignments were the main focus. The Continental share had already made a strong jump before the weekend. The trigger is the sale of the ContiTech division to financial investor Lone Star. The group expects an inflow of approximately 3.1 billion euros from this and plans to pass on about 2.5 billion euros to shareholders via a special dividend or share buybacks. At the same time, the strategic realignment toward becoming a pure tire manufacturer is progressing.

Schaeffler also remains in demand. The stock benefits indirectly from Continental's plans, which are interpreted as a positive signal for the supplier industry and potential efficiency gains. Investors saw the move as an indication that a focus on the core business could also have positive effects for other automotive suppliers.

The French defense group Thales, for its part, wants to take over the specialist for underwater drones Exail and as a first step is securing the shares of the founding Gorgé family. The offer of 134 euros per share for the 35.51 percent stake was published on Monday and represents a premium of 44 percent over the Exail price of 26 June. Exail shares rose by just under four percent to 126.90 euros in early trading, while Thales itself gained just under one percent.

Thales takes over Exail

In the British aviation sector, a long-awaited decision was finalized. EasyJet has agreed in principle to the fifth takeover offer from US investor Castlelake, the company announced on Sunday in London. Castlelake is offering 6.90 British pounds per share, valuing EasyJet at a total of 5.2 billion pounds. Milestone payments of up to 400 million US dollars may be added on a contingent basis. EasyJet shares jumped by just under ten percent to 611.60 pence.

EasyJet accepts Castlelake offer

A multi-billion acquisition was also announced in the pharmaceutical sector. Basel-based Novartis is taking over the British biotech company Myricx Bio for up to 1.5 billion US dollars, thereby strengthening its pipeline for cancer drugs. Novartis will initially pay 1.1 billion US dollars, with the transaction expected to close in the second half of 2026. Novartis shares rose slightly by 0.3 percent.

Novartis buys Myricx Bio

Delivery Hero also remained in the spotlight for investors. As a result, the stock remains a potential takeover candidate and one of the most exciting names in the European technology sector. Market participants report that Uber is said to have postponed parts of its European expansion plans in the delivery business and is also exploring a closer strategic alignment with Delivery Hero. There are indications that Uber already holds a significant economic interest in the Berlin delivery service through direct shareholdings and derivatives.

Meanwhile, JPMorgan strategist Mislav Matejka provided confidence for tech stocks. He sees the recent weakness of AI stocks after the strong rallies in the US semiconductor index SOX and the Korean Kospi as temporary. Matejka does not expect any significant new semiconductor capacities before 2028, meaning the semiconductor cycle is not yet at an end. "Er geht davon aus, dass Anleger nun wieder verstärkt Einstiegschancen wittern", it was stated. The upcoming earnings season is also viewed, as the experts at Steubing see it, as a support for the stock markets overall.

Delivery business: Uber and Delivery Hero move closer

On the fringes of the trading day, those responsible once again pointed to the risks of highly speculative products. On average, 7 out of 10 retail investors suffer losses when trading turbo certificates. The public offering is made solely on the basis of a securities prospectus approved by the Federal Financial Supervisory Authority ("BaFin"). The source of the data on the most traded leveraged products was onemarkets by UniCredit; as of: 06.07.2026, 09:40.

Semiconductor cycle: JPMorgan gives all-clear

Overall, the picture on the German stock market remains shaped by two forces: a robust condition reflected in the DAX's proximity to record levels, and the search for new impulses. The surprisingly strong industrial orders from Germany are seen as an initial signal that the months-long weakness of the domestic industry could be subsiding. At the same time, investors are looking to the upcoming economic data from the US, which should provide early indications of the state of the world's largest economy.

If the ISM Index for the US services sector shows robust values in the afternoon, this could additionally support risk appetite in the markets. Conversely, a weak figure would reinforce the cautious tone recently observed at European bourses. Until then, the DAX is likely to oscillate in a narrow range around its record level and wait for new news from the earnings season.

Outlook: What investors should keep an eye on now

The trading day thus provides a typical picture of a mature upward movement: strong sentiment, but a lack of catalysts for the next big move. Which direction is taken depends, in the observers' assessment, primarily on the US economic data and the course of the quarterly earnings season starting shortly.