DAX Edges Higher In Cautious Trade
(RTTNews) - German stocks traded slightly higher on Friday, a day after the European Central Bank (ECB) cut its deposit rate by 25 basis points to 3.25 percent, citing sluggish economic growth and easing inflation.
According to its quarterly survey of professional forecasters, the ECB sees inflation falling to 1.9 percent in 2025 from a previous forecast of 2 percent. The projections for 2024 and 2026 were kept unchanged at 2.4 percent and 1.9 percent.
The benchmark DAX was up 48 points, or 0.3 percent, at 19,631 after rising 0.8 percent on Thursday.
In corporate news, Stratec SE shares fell more than 2 percent.
The maker of analyzer and automation systems for In-Vitro-Diagnostic reported that preliminary consolidated sales for the first nine months of 2024 declined to 176.3 million euros from 187.7 million euros last year.
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