DAX Climbs Ahead Of Key US Inflation Data

(RTTNews) - German stocks climbed on Friday after U.S. tech giants Microsoft and Alphabet posted strong quarterly earnings and an ECB survey showed Euro zone consumers lowered their expectation for inflation over the next 12 months in March.

The core Personal Consumption Expenditures (PCE) Price Index, the U.S. Federal Reserve's preferred inflation measure, will be published later today.

The benchmark DAX was up 131 points, or 0.7 percent, at 18,048 after losing 1 percent in the previous session.

In corporate news, Thyssenkrupp soared 10 percent after the conglomerate has agreed to sell a 20 percent stake in its steel business to EP Corporate Group (EPCG).

Medigene AG, a biotechnology company, fell 2.5 percent despite posting higher revenue in the first quarter and reaffirming its annual revenue guidance.