DAX Rallies On Inflation Data
(RTTNews) - German stocks rallied on Thursday after preliminary data showed German inflation rose by a less than anticipated 8.7 percent year-on-year in January, helping ease pressure on the European Central Bank to keep raising rates.
Destatis was initially scheduled to release its January data last week but delayed the publication over an "unexpected technical problem".
The benchmark DAX was up 199 points, or 1.3 percent, at 15,611 after climbing 0.6 percent in the previous session.
Nordex Group gained nearly 2 percent. The wind turbine maker has bagged an order from Enefit Green, one of the leading producers of renewable energy in the Baltic region for 255 MW for a wind farm in Estonia.
Delivery Hero plunged more than 8 percent. The food-delivery firm reported slightly lower-than-expected gross merchandise value (GMV) for 2022.
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