DAX Extends Gains Ahead Of Fed Decision
(RTTNews) - German stocks rose on Wednesday to extend gains from the previous session as investors braced for the Federal Reserve's interest-rate decision later in the day.
In economic releases, German exports dropped unexpectedly, and imports logged its first time fall in eight months in September, official data revealed earlier today. Exports dropped 0.5 percent month-on-month after rising 2.9 percent in August, Destatis reported. At the same time, imports registered a decline of 2.3 percent, in contrast to the 4.9 percent rise in August.
On a yearly basis, exports logged a double-digit growth of 20.3 percent but slower than the prior month's 23.1 percent increase. Likewise, imports growth eased to 30.7 percent from 37.6 percent.
In a separate communiqué, the statistical office said the jobless rate held steady at seasonally adjusted 3.0 percent in September.
The benchmark DAX was up 57 points, or 0.4 percent, at 13,395 after rising 0.6 percent the previous day.
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