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DAX Gains As Inflation Cools As Estimated
(RTTNews) - German stocks edged higher on Friday as investors assessed the latest inflation data and awaited key U.S. employment report later in the day to confirm bets that the Federal Reserve is at peak rates.
According to the final estimate, Germany's consumer price inflation (CPI) fell to its lowest in 29 months in November, matching provisional estimates released last week.
CPI fell to an annual 3.2 percent last month from 3.8 percent in October, bolstering the case for a peak in eurozone interest rates.
The benchmark DAX was up 40 points, or 0.2 percent, at 16,669 after losing 0.2 percent the previous day.
In corporate news, telecommunications provider 1&1 AG edged up slightly as it announced the launch of 5G smartphone network services in Europe.
This is the first network in Europe to fully depend on the new Open RAN Technology.
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