DAX Edges Higher As US Rate Fears Recede

RTTNews | 1251 days ago
DAX Edges Higher As US Rate Fears Recede

(RTTNews) - German stocks advanced on Friday after a measure of U.S. producer prices unexpectedly fell in March, raising optimism the Federal Reserve may consider pause in interest-rate hikes.

Closer home, figures from Destatis revealed that Germany's wholesale price inflation slowed to the lowest level in more than two years in March.

Wholesale price inflation eased more-than-expected to 2.0 percent in March from 8.9 percent in February.

This was the lowest rate since January 2021, when prices remained flat. Economists had forecast prices to climb 2.5 percent in March.

The annual price growth has slowed after peaking at 23.8 percent last April.

The benchmark DAX was up 43 points, or 0.3 percent, at 15,772 after gaining 0.2 percent in the previous session.

In corporate news, plastics group Covestro edged up slightly despite announcing a weak start to the year in a difficult industry environment.

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