DAX Gains On Bets US Inflation May Have Peaked
(RTTNews) - German stocks rose on Friday amid bets that U.S. inflation may have peaked.
Investors shrugged off data from Destatis showing that Germany's wholesale price inflation accelerated for the first time in five months in September.
Wholesale prices climbed 19.9 percent year-over-year in September, faster than the 18.9 percent spike in August.
The rise in inflation was largely attributed to increased prices for raw materials and intermediate products.
On a monthly basis, wholesale prices rose 1.6 percent from August, when they edged up by 0.1 percent.
The benchmark DAX was up 72 points, or 0.6 percent, at 12,427 after rallying 1.5 percent the previous day.
Wind turbine manufacturer Nordex jumped 6 percent after an update that it received orders for 227 wind turbines with a total rated output of 1441MW in the third quarter of 2022.
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