DAX Moderately Higher In Cautious Trade
(RTTNews) - German stocks climbed higher on Friday with investors reacting a bit positively to Israeli Prime Minister Benjamin Netanyahu's announcement that his country was ready for direct negotiations with Lebanon. Netanyahu, however, insisted that Israel would continue to target Hezbollah.
Meanwhile, uncertainty about U.S.-Iran truce continue to render the mood cautious.
Investors also digested German inflation data that came in line with preliminary estimate published on March 30.
The benchmark DAX, which climbed to 23,957.27, was up 148.79 points or 0.63% at 23,903.87 a little while ago.
Heidelberg Materials climbed 2.7%. Infineon Technologies gained 1.85%, while Siemens Healthineers, Adidas, Merck, Fresenius Medical Care and Scout24 gained 1.3%-1.5%.
BASF, Symrise, Siemens, BMW, Deutsche Post, Mercedes-Benz, Siemens Energy and Fresenius posted moderate gains.
Porsche Automobil Holding, which drifted down after reporting a decline in first-quarter deliveries, recovered lost ground and was up marginally a little while ago.
Rheinmetall tumbled nearly 4%. Daimler Truck Holding shed about 1.3%, while MTU Aero Engines drifted down 1.1%. E.ON and RWE were modestly lower.
Final data from Destatis revealed Germany's consumer price inflation reached the strongest since January 2024 due to the significant rise in energy prices following the Iran war.
Consumer price inflation rose to 2.7% in March from 1.9% in February.
The rate came in line with the preliminary estimate published on March 30. The 2.7% was the highest level recorded since January 2024.
EU harmonized inflation advanced to 2.8%, as estimated, from 2% in February.
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