DAX Edges Higher On Hopes Of Rate Cuts
(RTTNews) - German stocks rose on Thursday to extend gains from the previous session amid expectations that central banks will start cutting rates around mid-2024.
Investors looked ahead to a raft of U.S. economic data and high-profile ECB and Fed speeches for further clues to the economic growth and rate outlook.
The dollar held ground as U.S. President Joe Biden and Chinese President Xi Jinping concluded more than four hours of talks with a commitment to stabilise strained relations.
The benchmark DAX was up 62 points, or 0.4 percent, at 15,810 after climbing 0.9 percent in the previous session.
Hellofresh shares plunged more than 20 percent. The meal kit delivery company lowered its adjusted earnings expectations for the year and narrowed its revenue growth outlook.
Industrial conglomerate Siemens jumped 5.5 percent after posting fourth-quarter profit ahead of expectations.
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