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DAX Little Changed In Choppy Trade

German stocks were little changed on Monday, even as positive sentiment prevailed amid optimism about the reopening of economies and easy monetary policies.

The benchmark DAX was down 15 points, or 0.1 percent, at 15,384 after rallying 1.3 percent on Friday. The index hit as high as 15,419 earlier in the day before reversing direction.

Banks gained ground, with Commerzbank climbing 1.3 percent and Deutsche Bank rising 0.3 percent, respectively.

BioNTech shares surged 7 percent after the biotech company revealed plans to build a new manufacturing site for its vaccines based on mRNA technology in Singapore.

Wacker Neuson rallied 2.3 percent. The light and compact equipment manufacturer made a successful start to 2021, with Q1 group revenue rising 5.6 percent relative to the previous year.

Copper producer Aurubis edged up slightly after delivering strong quarterly earnings.

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