DAX Slightly Higher As Inflation Worries Mount
(RTTNews) - German stocks were slightly higher on Thursday after suffering heavy losses in the previous session.
Inflation and interest-rate worries were back in focus after minutes from the Federal Reserve's July meeting hinted at more aggressive rate hikes to control inflation.
Eurostat is scheduled to issue euro area final inflation data for July later in the day. According to flash estimate, inflation climbed to a record 8.9 percent from 8.6 percent in June. The statistical office is expected to confirm the preliminary estimate.
Euro zone government bond yields rose after ECB board member Isabel Schnabel said consumer prices could still accelerate in the short term, suggesting she favors another large interest-rate hike next month.
The benchmark DAX was up 0.2 percent at 13,650 after losing 2 percent the previous day.
HELLA GmbH & Co. KgaA shares advanced 1.6 percent. The automotive part supplier posted a decline in earnings for the fiscal 2021-22 but achieved record order intake.
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