This meant that the stock market barometer remained within reach of the 19,000 mark, which the DAX has not yet been able to overcome. Just below this, the index reached a record high the previous week. The MDax of medium-sized stocks closed on Monday with a gain of 0.15 percent at 27,482.05 points.

From an industry perspective, auto stocks were in investor focus after Morgan Stanley analysts made some reclassifications. They raised the shares of Mercedes-Benz to “Overweight” and lowered the shares of Porsche AG and the preferred shares of Volkswagen to “Underweight”. The investment bank’s experts took a “cautious” stance for the auto sector as a whole, which then caused share prices to fall.

Despite the upgrade, Mercedes shares fell by 1.4 percent. At Volkswagen and Porsche AG, the experts at Morgan Stanley believe the market’s expectations are too high. Among other things, both were criticized for their high dependence on business in China. VW fell 1 percent and Porsche AG fell 1.9 percent.

At the bottom of the DAX, Siemens Energy’s shares lost 2.6 percent. According to a press report, the energy technology group wants to sell the Indian wind turbine division of its subsidiary Siemens Gamesa Renewable Energy. The valuation of the business in the transaction was one billion US dollars, the Indian business newspaper Mint reported on its website, citing two people familiar with the matter. According to the report, the division’s annual sales are $700 million.

The shares of the mail order company for business equipment Takkt were optically down almost 10 percent because they were traded ex dividend. Without the one euro discount, the price loss would have been just under 3 percent.

There was also a slight upward trend on the other European stock exchanges. The EuroStoxx 50, the leading barometer for the euro zone, gained 0.2 percent. In Paris things rose even more strongly, with the London FTSE 100 barely moving. The US leading index Dow Jones Industrial was slightly up at the close of trading in Europe.

The euro barely moved and was last quoted at 1.0860 US dollars. The European Central Bank had set the reference rate at 1.0861 (Friday: 1.0844) US dollars. The dollar thus cost 0.9207 (0.9221).

On the bond market, the current yield rose from 2.54 percent on Friday to 2.58 percent. The Rex bond index fell by 0.19 percent to 124.26 points. The Bund future fell by 0.07 percent to 130.60 points in the evening.