DAX Edges Higher As Bond Yields Ease
(RTTNews) - German stocks edged higher on Thursday and Eurozone bond yields tumbled after data showed both headline and core inflation in the U.S. rose at a slower-than-expected pace in June, potentially bolstering the case for the Fed to stop raising rates. Hopes for China stimulus also offered some support after data showed China's exports contracted last month at their fastest pace since the onset three years ago of the COVID-19 pandemic.
The benchmark DAX was up 51 points, or 0.3 percent, at 16,074 after rallying 1.5 percent the previous day.
BASF shares fell about 1 percent. The chemical company cut its full-year outlook after preliminary net income for the second quarter of 2023 declined to 499 million euros from 2.09 billion euros in the previous year.
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