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DAX Holds Steady On Solid Data
(RTTNews) - German stocks held steady on Thursday after official data showed Germany's industrial production grew faster than expected in February underpinned by robust growth in automotive output.
Industrial output grew 2.0 percent on a monthly basis in February, faster than economists' forecast of 0.1 percent gain. However, the pace of growth eased from 3.7 percent in January.
On a yearly basis, industrial production climbed 0.6 percent, in contrast to the 1.6 percent decrease in January.
The benchmark DAX was up30 points, or 0.2 percent, at 15,550 after losing half a percent the previous day.
Gerresheimer AG, a maker of packaging products for medication and drug delivery devices, fell nearly 2 percent despite reporting higher quarterly earnings and backing its 2023 view.
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