DAX Gains As Inflation Concerns Ease
(RTTNews) - German stocks eked out modest gains on Wednesday as positive data from the U.S. and China helped ease investor concerns surrounding interest rate hikes and slowing economic growth.
Closer home, data published by the federal statistics office revealed that German wholesale prices fell by the most in almost three-and-a-half years in October, adding to recent signs of easing inflationary pressures in Europe's largest economy.
Wholesale prices fell by 4.2 percent in October on an annual basis, marking the sharpest decline in prices since May 2020.
The benchmark DAX was up 66 points, or 0.4 percent, at 15,680 after rallying 1.8 percent in the previous session.
Infineon Technologies rallied 2.7 percent. The semiconductor company proposed higher demand after posting increased earnings for the fourth quarter.
Energy technology company Siemens Energy jumped nearly 7 percent after securing 7.5 billion euros ($8.15 billion) in project-related state guarantees from the German government.
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