On the German stock market, investors are likely to react with relief to the customs agreement between the European Union (EU) and the USA.

The X-Dax DE000A0C4CA0 signaled the country's leading index at 24,526 points about an hour before trading began on Monday, up 1.3 percent from Friday's close. The Eurozone's leading index, the EuroStoxx 50 EU0009658145, posted gains of a similar magnitude.

In recent days, market participants had already hoped for an agreement after the United States also reached an agreement with Japan. Market uncertainty is now fading, prices are rising, and the DAX is looking toward its record high of 24,639 points reached almost three weeks ago.

The US and the EU agreed on a base tariff of 15 percent on most EU imports into the US. This also applies to cars, semiconductors, and pharmaceutical products. The agreement also creates a framework for future tariff reductions on other products, it was stated. Analyst Greg Fuzesi of the US bank JPMorgan emphasized that the agreement prevents the European Union from being disadvantaged compared to other countries.

Given US President Donald Trump's threat to impose tariffs of 30 percent starting August 1, the now agreed tariff rate of 15 percent is a good result, said Thomas Gitzel, chief economist of Liechtenstein's VP Bank, commenting on the agreement - especially because no additional extra tariffs are planned for the automotive industry.

However, a tariff rate of 15 percent will not leave the European export industry unscathed. According to Gitzel, this applies particularly to Germany, with the USA being the most important single export market.

Automotive stocks are expected to benefit most from the tariff agreement. Volkswagen DE0007664039, Mercedes-Benz DE0007100000, and BMW DE0005190003 traded on the Tradegate trading platform up to three percent above Friday's Xetra closing price.

ProSiebenSat.1 shares (DE000PSM7770) rose by a good nine percent on Tradegate. Berlusconi's Italian group MediaForEurope (NL0015000N09) increased its bid for the German media group.

Nordex shares DE000A0D6554 rose by almost one percent on Tradegate. The wind turbine manufacturer significantly improved its profitability in the second quarter.