DAX Rises Ahead Of Inflation Data
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(RTTNews) – German stocks rose on Thursday after preliminary data showed inflation fell in six important German states in August due to lower energy prices.
German inflation data and U.S. GDP revision may influence trading sentiment later in the day.
German consumer price inflation is seen at 2.1 percent in August, down from 2.3 percent in July.
The benchmark DAX was up 69 points, or 0.4 percent, at 18,850 after rising half a percent in the previous session.
In corporate news, food-delivery company Delivery Hero jumped more than 3 percent after half-year earnings beat market views.
Automakers traded higher even as industry data showed Europe car registrations growth eased notably in July largely due to the sharp fall in battery-electric car demand.
Car sales grew only 0.2 percent on a yearly basis in July after a 4.3 percent gain in June, according to data released by the European Automobile Manufacturers’ Association.
BMW rose half a percent, Mercedes Benz added 0.8 percent and Volkswagen was up 0.2 percent.
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