Frankfurt’s DAX 40 climbed to a new record of 25,860 points on Monday, extending last week’s rally. The index was buoyed by the prospect of strong quarterly earnings and falling oil prices. Among individual movers, Merck edged higher after HSBC adjusted its stock rating, downgrading the company from “Buy” to “Hold” but raising its price target from €160 to €170. Delivery Hero shares rose nearly 1% following reports that Uber has paused most of its European food delivery expansion plans, announced just months ago, while advancing its acquisition of the German competitor. Continental remained in focus as the automotive supplier plans to distribute €2.5 billion from the sale of ContiTech to shareholders through a special dividend and potential share buybacks. The announcement, made Friday, sent Conti’s share price to its highest level since 2021.

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