DAX Rises On Earnings
(RTTNews) - German stocks advanced on Wednesday as investors digested a raft of earnings updates and looked ahead to Thursday's ECB meeting.
The European Central Bank is widely expected to raise rates by 75 basis points amid a looming recession.
The benchmark DAX was up 80 points, or 0.6 percent, at 13,133 after gaining 0.9 percent in the previous session.
Energy major Uniper SE tumbled 4.3 percent. Based on preliminary results, the company said it expects an adjusted net loss of 3.2 billion euros ($3.16 billion) for the nine months to end-September.
Mercedes-Benz slipped half a percent despite the luxury carmaker raising its forecast for adjusted return on sales for the full year for its cars division.
Sportswear maker PUMA fell 1.3 percent after saying it is lagging somewhat behind inflation with its price increases.
Chemical firm BASF rose nearly 2 percent after backing its FY22 outlook.
Deutsche Bank declined 1.5 percent despite posting better-than-expected earnings for the third quarter.
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