German stocks rose on Friday as signs of easing inflation in the U.S. and the euro zone raised optimism over possible interest rate cuts earlier next year.
Germany’s November final manufacturing PMI improved to 42.6 from 42.3 preliminary, shifting focus to the euro zone’s manufacturing PMI numbers due later in the day.
The dollar index eased as investors awaited Federal Reserve Chair Jerome Powell’s remarks later in the day for additional clues on the rate outlook.
The benchmark DAX rose 88 points, or half a percent, to 16,303 after gaining 0.3 percent in the previous session.
Tech stocks led advances, with Infineon Technologies rallying 2.1 percent.
Banks Commerzbank and Deutsche Bank both added around half a percent.
Bechtle AG, an IT systems house and e-commerce provider, plunged nearly 6 percent after announcing a convertible bond offering.
Market Analysis
DAX Gains As Investors Await Powell’s Speech
2023-12-01 09:03:14
