DAX Rises As Fed Hike Bets Ease

RTTNews | 878 hari yang lalu
DAX Rises As Fed Hike Bets Ease

(RTTNews) - German stocks advanced on Friday after U.S. producer price gains slowed in July, adding to expectations the Federal Reserve will slow the pace of rate hikes going forward.

The benchmark DAX climbed 83 points, or 0.6 percent, to 13,777 after closing marginally lower in the previous session.

Shopping center investor Deutsche EuroShop slumped 5.6 percent after reporting flat revenue for the first half of 2022.

Freenet, a telecommunications and web content provider, added 1.6 percent after lifting its FY EBITDA outlook.

Knorr-Bremse gave up 2.8 percent. The manufacturer of braking systems for rail and commercial vehicles reported that its operating EBIT for the first half of 2022 declined to 365 million euros from the prior year's 495 million euros.

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