DAX Edges Higher On ECB Rate Cut Hopes
(RTTNews) - German stocks traded higher on Friday amid expectations of interest-rate cuts in the second quarter.
ECB member and Bank of France head Francois Villeroy de Galhau said the central bank should favor gradual rate cuts rather than waiting too long to cut rates this year.
The risk of moving too late exists "at least" as much as that of moving too soon, he said in an interview with Belgian newspaper L'Echo.
The benchmark DAX was up 92 points, or half a percent, at 17,139 after gaining 0.6 percent in the previous session.
Automotive supplier Hella fell over 2 percent despite posting improved full-year portfolio-adjusted sales and operating income.
Volkswagen gained 1 percent after signing a supply agreement with India's Mahindra & Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles (EVs).
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