German stocks edged higher on Tuesday after IHS Markit’s final Purchasing Managers’ Index (PMI) for the services sector came in at 56.2 versus a flash reading of 56.0.
However, that was down from 60.8 in August as the pace of recovery in the services sector slowed.
The benchmark DAX rose 31 points, or 0.2 percent, to 15,067 after losing 0.8 percent in the previous session.
Lender Commerzbank rose about 1 percent and Deutsche Bank added 0.6 percent as bond yields surged to 18-month high.
Infineon Technologies gained nearly 2 percent after confirming its 2021 revenue and segment result margin guidance. For fiscal 2022, the company expects strong revenue increase and a further margin uplift.
Bayer dropped half a percent after the company unveiled plans to expand production capabilities in Turku, Finland.
Market Analysis
DAX Edges Higher In Cautious Trade
2021-10-05 09:04:01
