DAX Edges Higher In Lackluster Trade
(RTTNews) - German stocks traded higher on Monday as investors assessed the results of Turkey's presidential election and looked for progress in talks on the U.S. debt ceiling.
Meanwhile, Germany's wholesale prices logged their first decline since December 2020 driven by the sharp fall in mineral oil product prices, data published by Destatis revealed.
The wholesale price index declined 0.5 percent in April from the last year, following March's 2.0 percent increase.
Prices dropped for the first time since December 2020, when the index slid 1.2 percent. Prices were forecast to drop 0.7 percent in April.
On a monthly basis, wholesale prices dropped 0.4 percent, in contrast to the 0.2 percent rise in March.
The benchmark DAX was up 31 points, or 0.2 percent, at 15,944 after rising half a percent on Friday.
Siemens Energy, which supplies equipment and services to the power sector, rallied 3.3 percent after adjusting its outlook for fiscal year 2023.
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