German stocks edged up slightly on Wednesday after a survey showed manufacturers slightly increased outputs in May.
S&P Global’s final PMI manufacturing came in at 54.8, barely changed from a flash reading of 54.7.
Separate data from Destatis revealed that retail sales in Germany fell by 5.4 percent in April compared to the previous month, due to a record fall in food sales.
Year-on-year, retail sales dropped by real 0.4 percent, confounding expectations for an increase of 4.0 percent.
The benchmark DAX was up 0.2 percent at 14,416, paring some early gains.
The yield on Germany’s 10-year Bund, seen as a proxy for borrowing costs in the bloc, edged up marginally to 1.14 percent, while oil prices rose over 1 percent in European trade on expectations of firmer fuel demand from China.
Market Analysis
DAX Edges Up In Cautious Trade
2022-06-01 09:02:17
