German stocks were seeing modest gains in cautious trade on Wednesday ahead of U.S. consumer price inflation data due later in the day that could influence the Federal Reserve’s monetary policy path.
Traders currently bet the central bank will hike rates by 25 basis points in its May policy meeting.
The benchmark DAX was up 48 points, or 0.3 percent, at 15,703 after gaining 0.4 percent the previous day.
Deutsche Bank shares rose 1.1 percent. The bank is winding down its remaining software technology operations in Moscow and St Petersburg to end two decades of reliance on Russian IT expertise, the Financial Times reported.
Car manufacturer Mercedes Benz gained 0.6 percent after sales rose moderately in the first quarter of this year.
DAX Inches Higher Ahead Of US Inflation Data
2023-04-12 08:59:05
