DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data
(RTTNews) - German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus.
However, with the mood turning a bit cautious, the market pared some gains and was up just marginally a little while ago.
The benchmark DAX, which advanced to 24,088.02, retreated amid cautious moves by investors, and was at 24,048.67, up 14.58 points or 0.06% from previous close.
If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
Top officials from the world's two major economies were engaged in negotiations in London on Monday and Tuesday to arrive at a mutually agreeable framework that will help ease trade tensions.
Gains in German market are just marginal as investors await the full outcome of Sino-US talks. Also, the mood is cautious ahead of the release of U.S. consumer price inflation data later in the day.
Rheinmetall is gaining about 3.3%, and Bayer is up 3.1%. Heidelberg Materials and MTU Aero Engines are up 1.9% and 1.7%, respectively.
Siemens Energy, Deutsche Bank, RWE, Porsche, Daimler Truck Holding, Mercedes-Benz, Siemens, Vonovia and Qiagen are up with moderate gains.
Sartorius, Fresenius Medical Care, Siemens Healthineers, Deutsche Boerse, Adidas, Deutsche Telekom, Hannover Rueck and Munich RE are down 0.4 to 0.8%.
DAX Firm Amidst Mixed Trends In Europe
Yen Rises Amid BoJ Rate Hike Bets
Asian Stocks Extend Gains
Yen Rises Against Majors
Europe Car Sales Increase In November
European Economic News Preview: German Import Price Data Due
Cautious Optimism Expected In European Markets
