DAX Modestly Higher As Investors Await Key Policy Decisions
(RTTNews) - German stocks are gaining modest ground in positive territory Wednesday morning as investors react to the nation's consumer confidence data, and corporate earnings updates, and await rate decisions from the Federal Reserve later in the day.
The European Central Bank's policy announcement is due on Thursday. While the ECB is likely to lower rate by 25 basis points, the Fed is widely expected to hold its interest rate unchanged this month.
The benchmark DAX, which climbed to 21,525.70 earlier in the session, was up 59.80 points or 0.28% at 21,498.80 a little while ago.
Daimler Truck Holding, Siemens Energy and Infineon are gaining 2.2 to 2.5%. Puma is up nearly 2% and Siemens is advancing nearly 1.5%.
Rheinmetall, SAP, HeidelbergCement, Bayer, Zalando, Sartorius and Commerzbank are up with moderate gains.
Qiagen is declining 3.7%. Symrise is down 1.7% and Beiersdorf is lower by 1.6%, while Fresenius, Continental, Merck, RWE, Deutsche Telekom and Brenntag are down 0.6 to 1.1%.
The yield on Germany's 10-year government bond is down at 2.543%, dropping from previous close of 2.564%.
A report from the GfK Institute said the Consumer Climate Indicator for Germany declined to -22.4 heading into February 2025 from a marginally revised -21.3 in the previous period.
"The consumer climate has suffered another setback," said Rolf Bürkl, a consumer expert at NIM, adding that a sustainable recovery remains out of reach, particularly with inflation on the rise again.
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