DAX Up Marginally In Cautious Trade Ahead Of Euro Area Inflation Data
2024-12-29
1571
(fxcue news) - German stocks are a bit subdued Tuesday morning with investors making cautious moves amid a lack of significant triggers. Data on euro area inflation for the month of December, due later this morning, is expected to provide some direction.
The benchmark DAX, which opened at 20,184.66 and advanced to 20,251.45 subsequently, was up 21.28 or 0.11% at 20,231.26 a little while ago.
Among the gainers, Adidas is up 1.8%, Sartorius is rising 1.5% and Porsche is up 1.3%. Beiersdorf, Vonovia, BASF, Infineon and Siemens Energy are advancing 0.6 to 1.2%.
Delivery Hero is rising 4.3%. Hugo Boss, Hello Fresh, Lufthansa, Evotec and Deutsche Wohnen are gaining 1.3 to 2.1%.
Deutsche Bank is down by about 2.5%. HeidelbergCement is declining nearly 1%, while Mercedes-Benz, Allianz, Continental, Munich RE, Hannover Rueck and Commerzbank are down 0.5 to 0.7%.
Economists expect euro area inflation to have risen to 2.4% in December, up from 2.2% in November. The jobless rate is forecast to remain unchanged at 6.3% in November.
Meanwhile, S&P Global's data shows the HCOB Germany Construction PMI fell to 37.8 in December, the lowest in eight months, compared to 38.0 in November.
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