German stocks rose on Tuesday after data showed Germany’s consumer price inflation eased further in May to the lowest level in more than a year, as initially estimated.
The consumer price index climbed 6.1 percent annually in May, slower than the 7.2 percent rise in April, Destatis reported. That was in line with the flash data published on May 31.
Further, this was the weakest inflation since March 2022, when prices had risen 5.9 percent.
Similarly, EU-harmonized inflation slowed to 6.3 percent from 7.6 percent in April, as estimated.
Euro zone bond yields traded mixed ahead of U.S. CPI data due later in the day and the Fed’s interest-rate decision scheduled for Wednesday.
The benchmark DAX was up 59 points, or 0.4 percent, at 16,157 after climbing 0.9 percent in the previous session.
ProSiebenSat.1 rose over 1 percent. The private broadcaster announced that, Wolfgang Link, former Chief Entertainment Officer and CEO of Seven One Entertainment Group, has decided to leave the Group as of July 15, 2023.
Durr Group shares jumped 4.1 percent. The mechanical and plant engineering firm said that it has signed a deal to acquire BBS Automation Group.
Market Analysis
DAX Rises As German Inflation Eases Further
2023-06-13 08:52:48
