FRANKFURT (dpa-AFX) - After the significant correction at the end of last week, the Dax stabilized on Monday. The first bargain hunters picked up again after the recent losses. Further gains in US technology stocks also provided some encouragement. At the close of trading, the leading German index was up 0.37% at 18,068.21 points.

Last week, the Dax confirmed the break of its upward trend that had been in place since October 2023. In addition to the political uncertainty in France and the discussion about a customs dispute between the EU and China, the US Federal Reserve's reluctance to cut interest rates is also deterring investors from taking greater risks.

The MDax, which includes mid-caps, lost 0.92% to 25,483.51 points on Monday and suffered above all from the very high price losses for the shares of Carl Zeiss Meditec and Evotec.

The medical technology group Carl Zeiss Meditec had cut its targets for the 2023/24 financial year due to an unexpectedly slow recovery in the device business. The shares slumped by more than a fifth.

The experts at research firm Intron Health fear another profit warning for drug researcher Evotec. They downgraded the shares twice from "buy" to "sell", whereupon the shares went out of trading with a discount of 9.5 percent.

Adidas came under pressure in the DAX, falling 2.6 percent. The sporting goods manufacturer is investigating allegations of bribery and embezzlement against employees in China. "Adidas takes allegations of possible compliance violations very seriously and is clearly committed to adhering to legal and internal regulations as well as ethical standards in all markets in which we operate," it said in a statement published on Monday. The "Financial Times" had previously reported on this.

Shares in Deutsche Borse were among the biggest winners on the DAX, rising 2.1 percent following a buy recommendation from analysts Kepler-Cheuvreux.

Qiagen recovered from its initial losses following statements on future growth and gained 1.8 percent at the close of trading. The diagnostics specialist wants to grow faster and increase its profitability in the coming years.

SAF-Holland jumped to the top of the second-line index SDax with a plus of 8.3 percent. The supplier to the truck industry is confident that its profitability will be higher than before in 2024.

The EuroStoxx 50, the leading eurozone index, rose by 0.85% to 4880.42 points on Monday. The leading index in Paris closed with a similar gain, while the stock market in London ended the day slightly down. The US stock market was friendly. New York's leading index, the Dow Jones Industrial, was slightly higher at the European close. Technology stocks on the Nasdaq continued to be in demand.

The euro traded at 1.0718 US dollars after the close. The European Central Bank (ECB) had set the reference rate at 1.0712 (Friday: 1.0686) dollars in the afternoon. The dollar thus cost 0.9335 (0.9358) euros.

On the bond market, the current yield remained at 2.44 percent. The Rex bond index fell by 0.11 percent to 125.16 points. The Bund future lost 0.49 percent to 132.40 points./ajx/jha/

--- By Achim Jüngling, dpa-AFX ---