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DAX Gains In Cautious Trade
(RTTNews) - German stocks were seeing modest gains on Monday after having fallen sharply in the previous session on uncertainty about the outlook for U.S. inflation and interest rates.
Closer home, Germany's wholesale prices continued to decline in July, figures from Destatis showed earlier today.
Wholesale prices posted an annual decline of 2.8 percent in July but slightly slower than the 2.9 percent fall in June. This was the fourth consecutive decline in prices.
Month-on-month, wholesale prices dropped 0.2 percent, the same pace of decline as seen in June.
The benchmark DAX was up 67 points, or 0.4 percent, at 15,898 after losing 1.1 percent on Friday.
Automakers traded mostly higher, with BMW up nearly 1 percent and Volkswagen adding half a percent after Tesla rolled out a new round of price cuts in China.
Adesso jumped 4.7 percent after reporting a surge in its first-half EBITDA profit and confirming FY23 outlook.
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