DAX Rebounds After US Tech Rally

RTTNews | 836 hari yang lalu
Stocktwits
DAX Rebounds After US Tech Rally

(RTTNews) - German stocks rebounded on Wednesday, with sentiment underpinned by a rally in tech stocks on Wall Street overnight.

Investors shrugged off the results of a closely watched survey that showed German consumer confidence is set to deteriorate in July as the economy struggles to gain momentum.

After rising for four straight months, the consumer climate index dropped unexpectedly to -21.8 in July from -21.0 in June, the survey published jointly by GfK and the Nuremberg Institute for Market Decisions showed. The score was forecast to climb to -19.4.

The benchmark DAX was up 145 points, or 0.8 percent, at 18,322 after losing 0.8 percent in the previous session.

In corporate news, Volkswagen fell 1.4 percent after the automaker announced $5 billion investment in Rivian, the American EV maker, in a joint venture.

Encavis AG, a solar and wind park operator, rose half a percent after it secured a revolving credit facility for 300 million euros.

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