DAX Rises As Investors Pare Back Inflation Expectations
(RTTNews) - German stocks rose on Friday, as near-term worries around inflation eased somewhat amid growing concerns about a recession.
Markets ignored survey results showing that German business morale fell more than expected in June. The Ifo institute said its business climax index dropped to 92.3 from 93.0 in May.
The benchmark DAX climbed 89 points, or 0.7 percent, to 13,001 after tumbling 1.8 percent the previous day.
Zalando slumped 12 percent after the online fashion retailer cut its FY outlook, citing deteriorating macro conditions and consumer confidence.
Economy-sensitive stocks were declining, with automakers BMW and Volkswagen losing around 1 percent each.
Banks traded mixed, with Commerzbank losing 2.2 percent while Deutsche Bank advanced 1.4 percent.
Japanese Market Notably Higher
Yen Slides Against Majors
Yen Falls Against Majors
Canadian Dollar Rises As Crude Oil Prices Traded Higher
Canadian Dollar Rises Against Majors
Japan Leading Index Data Due On Wednesday
TSX Ends Shortened Session On Firm Note
