German stocks held steady on Thursday, as earnings optimism outweighed lingering worries over inflation and higher interest rates.
Germany’s producer prices grew at the strongest pace since the series began in 1949, driven by higher energy prices, Destatis reported earlier today.
Producer prices grew 24.2 percent year-on-year in December, after rising 19.2 percent in November. This was the strongest year-on-year increase since the survey began in 1949 and also exceeded the economists’ forecast of 19.4 percent.
On a monthly basis, producer price inflation advanced to 5.0 percent from 0.8 percent in November. Economists had forecast prices to climb again by 0.8 percent.
The benchmark DAX was marginally higher at 15,812 after closing 0.2 percent higher in the previous session.
Sportswear major Puma rose over 1 percent after it posted record sales and earnings that topped estimates.
Market Analysis
DAX Holds Steady As Producer Prices Register Record Jump
2022-01-20 08:58:12
