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DAX Inches Higher In Cautious Trade
(RTTNews) - German stocks were a tad higher on Tuesday after data showed wholesale prices in the country fell by 3.6 percent in November compared with the same month last year.
The ZEW indicator of economic expectations for December is due later in the day. The dollar dropped and Treasuries gained ahead of key U.S. consumer price inflation data for November due later in the day.
The benchmark DAX was up 25 points, or 0.2 percent, at 16,819 after closing 0.2 percent higher the previous day.
Hannover RE rose 1.6 percent after the reinsurer said it expects higher earnings for full year.
Carl Zeiss Meditec shares soared 7.2 percent after the medical technology company beat annual revenue expectations.
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German stocks pared early gains and are down in negative territory a little past noon on Friday with investors looking to take some profits after previous session's sharp upmove.
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The antipodean currencies Australia and the New dollar weakened against their major currencies in the Asian session on Friday, as traders continued to digest the U.S. Fed's interest rate cut by a quarter point and its impact on the markets. Fed officials' forecasts suggest two more rate cuts this year but just one next year, although there were significant differences of opinion about the outlook.
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UK government borrowing increased more than expected and also exceeded the official estimate in August, adding pressure on Chancellor Rachel Reeves ahead of the November budget. Public sector net borrowing increased GBP 3.5 billion from the last year to GBP 18.0 billion in August, the Office for National Statistics said Friday.
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NZ Dollar Falls Against Majors
The New Zealand dollar weakened against other major currencies in the European session on Friday.
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