DAX Climbs On Dovish Fed
(RTTNews) - German stocks traded higher on Thursday after a survey showed Germany's economic downturn eased slightly in March.
Investors also reacted to dovish Fed remarks and awaited a policy meeting of the Bank of England (BOE) later in the day for further direction.
The BOE is widely expected to keep its main interest rate at a 16-year high, with investors looking for clues on when it will start cutting interest rates.
The benchmark DAX was up 140 points, or 0.8 percent, at 18,154 after rising 0.2 percent in the previous session.
BMW shares fell about 1 percent as the automaker forecast a lower group margin.
Peer Mercedes Benz added 0.7 percent and Volkswagen rose over 1 percent after industry data showed new car sales in the EU rose for the second straight month in February on the back of strong demand among four major markets, especially in France and Italy.
New car registrations grew 10.1 percent year-over-year to 883,608 units in February, according to monthly data from the European Automobile Manufacturers' Association.
Vossloh gained more than 1 percent after achieving record sales and significant increase in EBIT in the 2023 financial year.
United Internet tumbled 3 percent after announcing its full-year results.
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