DAX Gains As Investors Digest Fed Minutes

RTTNews | 917 days ago
DAX Gains As Investors Digest Fed Minutes

(RTTNews) - German stocks rose on Thursday as investors reacted to the FOMC meeting minutes released overnight and a slew of encouraging earnings results.

Following the release of the minutes from the U.S. central bank's Jan 31-Feb 1 policy meeting, Fed funds futures now price in three more quarter-percentage-point rate hikes at upcoming meetings this year

The benchmark DAX was up 0.7 percent at 15,510 after finishing marginally higher on Wednesday.

Freenet AG, a telecommunications and web content provider, rose about 1 percent after posting EBITDA growth of 7.0 percent in financial year 2022.

Reinsurer Munich Re plunged 5.2 percent despite delivering a surprisingly strong annual profit in a difficult year for the industry.

Krones AG added 2 percent after reporting a rise in preliminary earnings and revenue.

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