DAX Rises Nearly 0.5% As Bond Yields Drop Slightly
(RTTNews) - German stocks are climbing higher on Wednesday thanks to easing bond yields, and data showing an unexpected drop in British inflation. Investors, focusing on quarterly earnings, are also looking ahead to U.S. consumer price inflation data for more clues about Fed interest rates.
The benchmark DAX 30, which climbed to 20,379.83, was up 95.14 points or 0.47% at 20,356.55 a little while ago.
Continental is gaining nearly 3%. BASF and Deutsche Post are up 2.1% and 2%, respectively. Siemens Energy, Vonovia, Commerzbank, Fresenius Medical Care, Bayer, Brenntag, Deutsche Telekom and RWE are advancing 1 to 1.6%.
Shares of wind turbine manufacturer Nordex are up more than 2.5% after the company announced that it has significantly increased its order intake last year to 8.34GW, up from 7.36GW in 2023.
Sartorius is declining 1.7% and Beiersdorf is down 1.2%. Henkel and MTU Aero Engines are modestly lower.
The yield on Germany's 10-year bond dropped to 2.598% this morning before recovering to 2.619%, still down slightly from previous close.
Data from Destatis showed Germany's wholesale prices increased for the first time in twenty months in December, rising 0.1% year-on-year, reversing a 0.6%. drop in November.
UK consumer price inflation moderated unexpectedly in December, the Office for National Statistics said. The consumer price index registered an annual increase of 2.5% in December, weaker than the 2.6% rise in November. The rate was seen unchanged at 2.6%.
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