DAX Inches Higher On Soft US Inflation Data
(RTTNews) - German stocks were slightly higher on Friday after soft U.S. inflation data fueled bets for a September rate cut by the Federal Reserve.
Closer home, Germany's wholesale prices continued to fall in June, but the pace of decline slowed further, Destatis reported earlier today.
Wholesale prices posted an annual decline of 0.6 percent in June, following a 0.7 percent drop in May. The current sequence of fall in wholesale prices started in May 2023.
On a monthly basis, wholesale prices decreased 0.3 percent in June, in contrast to the 0.1 percent increase in May. This was the fourth consecutive fall.
The benchmark DAX was up 45 points, or 0.2 percent at 18,579 after gaining 0.7 percent in the previous session.
In corporate news, Aker Solutions ASA jumped nearly 7 percent after its second-quarter profit beat expectations.
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