DAX Rises On China Data
(RTTNews) - German stocks opened higher on Wednesday as better-than-expected Chinese data helped investors shrug off recent concerns about inflation and interest-rate rises.
The dollar index extended losses while the German 10-year Bund yield climbed by 6.1 basis points to 2.710 percent, tracking higher U.S. yields.
The benchmark DAX was up 46 points, or 0.3 percent, at 15,411 after closing 0.1 percent lower on Tuesday.
Sportswear maker PUMA fell 1.3 percent after saying it expects cost pressure on margins to persist in 2023.
Nordex Group jumped 2.2 percent on bagging two orders for a combined total of almost 110MW in Sweden and Finland from wpd.
Nivea maker Beiersdorf fell around 1 percent after warning of lower organic growth sales this year.
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