DAX Edges Up In Cautious Trade
(RTTNews) - German stocks were slightly higher on Wednesday after data showed German consumer price inflation slowed as initially estimated in July.
Consumer price inflation slowed to 7.5 percent from 7.6 percent in June, final data from Destatis revealed - matching the flash estimate published on July 28. In May, headline inflation hit a record high 7.9 percent.
Investors await key U.S. consumer price inflation reading for July later in the day for further direction.
The benchmark DAX edged up 15 points, or 0.1 percent, to 13,550 after losing 1.1 percent the previous day.
Sixt SE, a car rental company, slumped 6 percent despite reporting higher second-quarter profit and revenues.
Oil and gas major E.ON SE was up around 1 percent after maintaining its 2022 outlook for full-year adjusted pre-tax profit.
Holiday group TUI AG was marginally higher after its EBIT loss narrowed for the third quarter of fiscal 2022.
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