DAX Edges Up On Mixed Earnings
(RTTNews) - German stocks eked out modest gains on Friday as investors reacted to mixed earnings results and awaited the release of U.S. June PCE data later in the day for directional cues.
The benchmark DAX was up 55 points, or 0.3 percent, at 18,353 after dropping half a percent the previous day.
Luxury automaker Mercedes-Benz rose half a percent in volatile trade after trimming its 2024 profit outlook for its core car division.
Patrizia SE, a real estate investment company, gained 0.7 percent.
The company has appointed Martin Praum as Chief Financial Officer to succeed Christoph Glaser, current CFO and Chief Operating Officer.
Hensoldt also added 0.7 percent. The provider of defense and security electronic sensor solutions reported a 17 percent rise in revenue for the first half.
Chemical company Wacker Chemie declined half a percent after reporting a fall in Q2 net income.
BASF Group fell 2.4 percent after posting muted growth in adjusted second-quarter earnings.
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