German stocks edged up slightly on Thursday as official data showed the country’s wholesale price inflation eased for the fourth month in a row in August but remained at an elevated level.
Wholesale prices logged a double-digit annual growth of 18.9 percent after rising 19.5 percent in July, Destatis reported. The pace of growth has slowed for the fourth consecutive month.
On a monthly basis, wholesale prices edged up 0.1 percent, in contrast to July’s 0.4 percent fall.
The benchmark DAX was up 37 points, or 0.3 percent, at 13,065 after declining 1.2 percent the previous day.
Banks rallied, with Commerzbank climbing 3.6 percent and Deutsche Bank adding 2.5 percent.
Uniper jumped 2.7 percent on news that the government could end up taking a majority stake in the ailing gas importer.
Market Analysis
DAX Edges Higher Led By Banks
2022-09-15 09:00:53
