DAX Edges Higher As Investors Await GDP Data
(RTTNews) - German stocks were seeing modest gains on Tuesday ahead of fourth-quarter Gross Domestic Product (GDP) data for Germany and the Eurozone due out later in the day.
The benchmark DAX was up 40 points, or 0.2 percent, at 16,981 after ending flat with a negative bias the previous day.
In corporate news, shares of food delivery service Delivery Hero fell more than 8 percent. The company said it would sell a stake in Deliveroo as consumer demand wanes. MorphoSys advanced 1.6 percent. The biopharmaceutical company expects Monjuvi U.S. net product sales to be in the range of $80 million to $95 million for the year 2024, in line with its previous guidance.
Hapag-Lloyd plunged 8.6 percent. The container shipping company registered a significant decline in preliminary earnings for the full year, mainly due to lower freight rates attributable to normalization of global supply chains.
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