German stocks climbed on Thursday amid optimism the Federal Reserve is nearing the end of its tightening cycle.
The benchmark DAX was up 158 points, or nearly 1 percent, at 16,290 ahead of the ECB rate announcement due later in the day.
The European Central Bank looks all but certain to hike the deposit rate by 25 bps but there is considerable uncertainty about the central bank’s guidance for September’s monetary policy.
In corporate news, automaker Volkswagen tumbled 3.4 percent after it cut 2023 deliveries outlook.
Peer Mercedes-Benz Group after lifting its full-year guidance.
Wind turbine manufacturer Nordex Group fell 2.6 percent after net loss grew in the first six months of the year.
Aixtron soared nearly 13 percent after the semiconductor-equipment company raised its outlook for 2023 revenue and orders in light of strong demand.
Market Analysis
DAX Rallies On Fed Optimism
2023-07-27 08:55:34
