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DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data
(RTTNews) - German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus.
However, with the mood turning a bit cautious, the market pared some gains and was up just marginally a little while ago.
The benchmark DAX, which advanced to 24,088.02, retreated amid cautious moves by investors, and was at 24,048.67, up 14.58 points or 0.06% from previous close.
If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
Top officials from the world's two major economies were engaged in negotiations in London on Monday and Tuesday to arrive at a mutually agreeable framework that will help ease trade tensions.
Gains in German market are just marginal as investors await the full outcome of Sino-US talks. Also, the mood is cautious ahead of the release of U.S. consumer price inflation data later in the day.
Rheinmetall is gaining about 3.3%, and Bayer is up 3.1%. Heidelberg Materials and MTU Aero Engines are up 1.9% and 1.7%, respectively.
Siemens Energy, Deutsche Bank, RWE, Porsche, Daimler Truck Holding, Mercedes-Benz, Siemens, Vonovia and Qiagen are up with moderate gains.
Sartorius, Fresenius Medical Care, Siemens Healthineers, Deutsche Boerse, Adidas, Deutsche Telekom, Hannover Rueck and Munich RE are down 0.4 to 0.8%.
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