DAX Edges Higher On China Stimulus Hopes
(RTTNews) - German stocks advanced on Friday and Eurozone bond yields ticked higher as investors awaited the latest Eurozone inflation data due later in the day for more clues on the direction of interest rates.
Earlier in the day, China reported weak manufacturing and non-manufacturing data, raising calls for more stimulus.
Closer home, investors shrugged off data showing that Germany's jobless rate rose unexpectedly in June.
The benchmark DAX was up 105 points, or 0.7 percent, at 16,052 after ending marginally lower the previous day.
Sportswear maker Adidas climbed 1.8 percent and Puma jumped 2.2 percent despite Nike forecasting first-quarter revenue below analyst expectations on Thursday.
Property firm LEG Immobilien SE soared almost 4 percent after lifting its outlook for 2023.
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