German Stocks Rise As Oil Declines, Bond Yields Fall
(RTTNews) - German stocks climbed higher on Thursday as the continued decline in oil prices and lower bond yields lifted sentiment.
Bond yields dropped following the Federal Reserve raising interest rate by 25 basis points on Wednesday.
Brent crude futures dropped to around $103.50 a barrel, losing about 2.2%, extending losses from the previous session as reports of additional Saudi crude cargoes through Oman helped ease supply concerns.
The benchmark DAX, which climbed to 25,755.50 earlier in the session, was up 111.58 points or 0.44% at 25,670.46 a little while ago.
Siemens Energy climbed 3.4%. Hochtief, BMW and Siemens gained 2%-2.25%. Qiagen and Daimler Truck Holding moved up nearly 1.5%, and Continental gained 1.3%.
Volkswagen, Gea Group, Mercedes-Benz, Beiersdorf, Deutsche Post, Commerzbank, Hannover RE and Zalando advance 0.4%-1%.
Pharma major Bayer edged modestly higher after the U.S. FDA approved Kerendia for chronic kidney disease in type-1 diabetes adults.
Symrise, Brenntag, Infineon Technologies, Scout24 and Heidelberg Materials shed 0.9%-1.1%.
Vonovia, Adidas, Fresenius Medical Care, Fresenius and Rheinmetall also showed weakness.
Industrial services provider Bilfinger nosedived nearly 21% after cutting its 2026 revenue outlook.
In economic news, final data from Eurostat showed Eurozone inflation accelerated less than estimated in August, with harmonized inflation rising to 3.2% from 2.9% in July. The August rate was revised down from the flash estimate of 3.3%.
Meanwhile, core inflation that excludes energy, food, alcohol and tobacco, eased to 2.4%, as initially estimated, from 2.5% in July.
On a monthly basis, the harmonized index of consumer prices moved up 0.4%, matching estimate.
U.S. Housing Starts Unexpectedly See Further Downside In August
U.S. Weekly Jobless Claims Unexpectedly Decrease
Bay Street Looks Headed For Positive Start
FTSE 100 Rises 0.5%; BoE Leaves Interest Rate Unchanged
French Stocks Rise On Weak Oil, Lower Yields Post-Fed Rate Hike
Indian Shares End Choppy Session Mixed After Fed Hike
Gold Climbs Amid Sliding Dollar, Yields
