German stocks were slightly higher in cautious trade on Monday as Ukrainian President Volodymyr Zelensky suggested Jerusalem could host peace talks between him and Vladimir Putin.
The benchmark DAX edged up 31 points, or 0.2 percent, to 14,444 after closing up 0.2 percent on Friday.
Cloud-based software company SAP SE lost 2.2 percent. The company announced that its Chief Financial Officer and Executive Board Member, Luka Mucic, will depart the company on March 31, 2023.
Steel producer Salzgitter Group rose over 2 percent after delivering the best pre-tax result in 13 years.
In economic releases, Germany’s producer prices continued to accelerate on energy prices in February, data published by Destatis showed earlier today.
Producer price inflation accelerated further to 25.9 percent in February from 25.0 percent in January. Nonetheless, this was slightly slower than the expected growth of 26.2 percent.
On a monthly basis, producer prices gained 1.4 percent, slower than the 2.2 percent increase in the previous month and also the economists’ forecast of 1.7 percent.
DAX Edges Higher In Cautious Trade
2022-03-21 08:56:36
