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DAX Advances, Hovers Around Record High
(RTTNews) - German stocks are edging higher in cautious trade Friday morning with investors digesting the nation's retail sales and unemployment data, and looking ahead to the consumer price inflation report due later in the day.
The benchmark DAX was hovering around record highs a little while ago, gaining 34.36 points or 0.16% at 21,764.94.
Data from Destatis said retail sales in Germany dropped by 1.6% month-over-month in December 2024, following downwardly revised 0.1% fall in the previous month. On annual basis, retail sales rose 1.8% in December, but fell short of an expected increase of 2.5%. Retail sales rose by a downwardly revise 2.9% annually in November.
According to results of the labour force survey, 1.44 million people were unemployed in December 2024. That was an increase of 129,000, or 9.9%, compared with December 2023. The unemployment rate rose to 3.2% in December 2024, compared with a 2.9% rise in December 2023.
Compared with the previous month, the adjusted unemployment rate remained at 3.4% in December 2024.
Consumer price inflation is seen at 2.6%, the same as in December.
Sartorius, Daimler Truck Holding, Continental, Merck, Vonovia and BASF are down 0.8 to 1%. Adidas and BMW are modestly lower.
Siemens Energy and MTU Aero Engines are gaining nearly 1%. RWE is up 0.8%, while Deutsche Bank, Infineon, Symrise, Deutsche Post, Commerzbank and Beiersdorf are advancing 0.3 to 0.7%.
Midcap stocks HelloFresh and Delivery Hero are gaining 2.5% and 2.2%, respectively. Hugo Boss is rising nearly 2% and Hensoldt is up 1.8%.
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