DAX Up Marginally In Cautious Trade
(RTTNews) - German stocks turned in a mixed performance Thursday morning with investors following news from the Middle East and looking ahead to the European Central Bank's monetary policy announcement, due later in the day.
The European Central Bank is widely expected to raise its deposit facility rate by 25 basis points to 2.25% and the main refinancing rate by 25 basis points to 2.40%. The ECB Chief Christine Lagarde's press conference is eyed for future policy moves by the central bank.
The benchmark DAX was up 11.16 points at 24,229.48 about a quarter before noon.
Siemens Energy climbed about 3%. RWE moved up 2.7%, while Bayer, Rheinmetall, BASF, Infineon Technologies and Continental gained 1.4%-1.7%.
E.ON, Deutsche Bank, Brenntag, Munich RE, Siemens, Adidas, Allianz and Deutsche Post posted moderate gains.
UniCredit gained more than 1% after Commerzbank said that no institutional investors have tendered shares into the Italian bank's takeover offer.
Hugo Boss shares jumped more than 5% after the U.K.'s Frasers Group launched a voluntary public takeover offer for the German fashion brand.
SAP drifted down 4.3%. Deutsche Telekom and BMW shed 3.7% and 3.1%, respectively. Volkswagen eased by nearly 2%, while Siemens Healthineers dropped 1.3%. Fresenius, Vonovia and Zalando also drifted notably lower.
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