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DAX Gains After Friday's Selloff
(RTTNews) - German stocks traded higher on Monday after suffering heavy losses in the previous session on concerns the Federal Reserve will keep raising rates to tame inflation.
The benchmark DAX was up 167 points, or 1.10 percent, at 15,376 after tumbling 1.7 percent on Friday.
Lender Commerzbank was up 4 percent, sports goods maker Adidas surged nearly 3 percent and online fashion retailer Zalando added 1.5 percent.
Basler AG rose half a percent. The manufacturer of computer vision components reported a 3 percent rise in earnings after tax for fiscal 2022 and said it has started 2023 with an increased order backlog.
The dollar edged lower in European trade but remained elevated, while the German 10-year Bund yield declined slightly.
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