Advertisement
DAX Edges Higher Despite Weak Consumer Sentiment Data
(RTTNews) - German stocks eked out modest gains on Tuesday, as optimism over fresh policy support from China offset weak German consumer sentiment data.
Consumer sentiment in Germany is set to erode in September as both income and economic expectations of households weakened, survey results from the market research firm GfK showed earlier today.
The forward-looking consumer confidence index fell to -25.5 for September from a revised -24.6 in August. Economists had forecast a reading of -24.3.
"The chances that consumer sentiment can sustainably recover before the end of this year are dwindling more and more," Rolf Burkl, a consumer expert at GfK, said.
The benchmark DAX was up 62 points, or 0.4 percent, at 15,854 after rising 1 percent in the previous session.
In corporate news, drug discovery and development company Evotec AG rose about 1 percent after narrowing its Q2 loss.
Riksbank To Cut Policy Rate Twice This Year To 1.75%, Swedish Think Tank NIER Says
Middle East Tensions Dampen FTSE 100
CAC 40 Drops As Middle East Tensions Weigh
German Economic Sentiment Strengthens In June
Sensex Drops Over 200 Points On Mideast Tensions; Nifty Nears 24,850
War Fears Drag Down DAX
European Shares Decline Amid Growing Israel-Iran Tensions
