DAX Gains On Mixed Earnings, Data

(RTTNews) - German stocks traded higher on Tuesday as investors reacted to mixed economic readings and earnings.

Germany's factory orders posted an unexpected fall in March due to the decrease in domestic demand, data from Destatis revealed.

Factory orders decreased 0.4 percent on a monthly basis, confounding expectations for an increase of 0.4 percent.

Nonetheless, the pace of decrease slowed from the revised 0.8 percent drop logged in February.

On a yearly basis, the decline in factory orders slowed to 1.9 percent from 8.8 percent in the previous month.

Separate set of data showed that Germany's exports rebounded at a faster-than-expected pace in March, while the growth in imports slowed sharply.

Exports gained 0.9 percent on a monthly basis, reversing a 1.6 percent fall in February. Shipments were forecast to climb 0.4 percent.

At the same time, monthly increase in imports eased to 0.3 percent from 3.0 percent in the previous month. Nonetheless, the outcome was better than the expected 1.0 percent decrease.

As a result, the trade surplus increased to EUR 22.3 billion in March from EUR 21.4 billion in the previous month. The surplus was slightly below economists' forecast of EUR 22.4 billion.

On a yearly basis, exports declined 8.3 percent after a 1.1 percent decrease.

Likewise, the fall in import deepened to 9.6 percent from 6.7 percent.

The benchmark DAX was up 77 points, or 0.4 percent, at 18,252 after climbing 1 percent in the previous session.

In corporate news, semiconductor-maker Infineon Technologies AG jumped 9 percent despite cutting its revenue forecast in the current fiscal year.

Software developer TeamViewer slumped nearly 8 percent after reporting Q1 revenue and earnings below estimates.

Health technology company Siemens Healthineers tumbled 3.7 percent after Q2 revenue missed expectations.

Zalando soared 7.2 percent. The online fashion retailer backed its full-year guidance after returning to growth in the first quarter.