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.
U.S. Weekly Jobless Claims Unexpectedly Edge Down To 219,000
Sensex, Nifty End Lackluster Session Little Changed
NZ Dollar Slides Against Most Majors
Australian Dollar Falls Against Majors
Asian Shares Mixed In Thin Holiday Trade
Chinese Yuan Falls To More Than 1-year Low Against U.S. Dollar
European Markets Closed For Boxing Day Holiday
