DAX Edges Higher On China Stimulus Optimism
(RTTNews) - German stocks traded slightly higher on Monday after a measure of China's consumer inflation unexpectedly decelerated in November and factory deflation eased, raising hopes for more proactive fiscal and monetary policies next year to boost domestic consumption.
The Politburo, a top decision-making body led by President Xi Jinping, said today it will stabilize property and stock markets while strengthening the "unconventional counter-cyclical" adjustment.
The benchmark DAX was up 24 points, or 0.1 percent, at 20,409 after closing up 0.1 percent on Friday.
Meal-kit company HelloFresh plunged more than 7 percent after reports of a U.S. probe over allegations of child labor.
Laboratory and pharmaceutical supplier Sartorius gained 1.1 percent after naming a new CEO.
Stabilus jumped 3 percent despite the machinery industry company reporting a fall in profit for fiscal 2024.
CompuGroup Medical soared 31 percent. The provider of healthcare software said it is in advanced talks to be acquired by CVC Capital Partners.
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