DAX Gains As Investors Look To Fed
(RTTNews) - German stocks advanced on Tuesday as focus shifted to upcoming Fed and BOE meetings.
Investors shrugged off government data showing that German retail sales fell for a fourth consecutive month in September due to persistently high inflation.
The real (price-adjusted) turnover of retail enterprises dropped 0.8 percent sequentially in September, following a 1.2 percent decrease in August, Destatis said. Germany's import prices fell 14.3 percent year-on-year during September while the index of export prices fell 4.1 percent, separate reports revealed.
The German DAX rose 85 points, or 0.6 percent, to 14,802 after closing up 0.2 percent the previous day.
Siemens Energy declined 1.5 percent after reports that it is considering selling stake in Indian-listed Siemens to former parent Siemens AG. Shares of the latter were up 0.7 percent.
Utility Uniper SE jumped 6.3 percent after it swung to a nine-month net profit of 9.77 billion euros ($10.35 billion).
Chemicals maker BASF rallied more than 4 percent as it unveiled fresh cuts to investment and measures to reduce operating costs. TeamViewer added 1.5 percent after backing its FY23 outlook.
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