DAX Gains Ahead Of Key Inflation Readings
(RTTNews) - German stocks opened higher on Monday as investors digested upbeat earnings and looked ahead to key inflation readings in Germany and the United States due later in the week. The benchmark DAX was up 231 points, or 1.20 percent, at 19,446 after declining 0.8 percent on Friday.
Automotive and industrial supplier Continental AG jumped nearly 7 percent after third-quarter core profit topped expectations.
IT service provider Q.beyond rose more than 2 percent after narrowing its quarterly loss and raising its full-year EBITDA outlook.
Hannover Re rallied 4 percent after the reinsurer raised its full-year 2024 profit target to €2.3bn.
Steel manufacturer Salzgitter fell about 2 percent after the company reported net loss for the first nine months of the financial year 2024 of 197.7 million euros, compared to prior year's profit of 193.7 million euros.
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