DAX Gains In Cautious Trade Ahead Of Key Eurozone Data
(RTTNews) - German stocks were seeing modest gains in cautious trades on Wednesday ahead of key Eurozone and U.S. economic data due later in the day.
The benchmark DAX was up 74 points, or 0.4 percent, at 17,886 after gaining half a percent the previous day.
Rheinmetall AG, an automotive and arms manufacturer, rose 1.6 percent after it signed an agreement to acquire all equity interests in Loc Performance Products, LLC, a renowned vehicle specialist based in Plymouth, Michigan, for an enterprise value of US$950 million.
Tour operator TUI Group added 1.3 percent after beating third-quarter operating profit expectations.
ThyssenKrupp tumbled almost 4 percent. The steelmaker swung to a net loss in the third quarter and cut its profit forecast for the third time this year.
Energy group RWE declined 1.5 percent as earnings fell by nearly a third in the first half of 2024 compared to a year ago.
E.ON dropped 1 percent after reporting dips in revenue and profits in the second quarter.
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