DAX Climbs On Solid Earnings

German stocks traded higher on Wednesday as investors digested encouraging earnings results and awaited central bank decisions in the U.S. and U.K.

Meanwhile, Germany’s jobless rate remained unchanged in June, the labor force survey results from Destatis showed today.

The unemployment rate stood at adjusted 3.4 percent, the same as in May. The number of unemployed persons increased only by 2,000 to 1.50 million.

Germany’s import prices increased for the first time in sixteen months in June, and at a faster-than-expected pace, separate set of data released by Destatis showed.

Import prices climbed 0.7 percent year-over-year in June, reversing a 0.4 percent fall in May. The expected increase was 0.5 percent.

Export prices registered an annual increase of 0.6 percent after a 0.2 percent gain in May. Further, this was the second successive monthly rise.

The benchmark DAX was up 119 points, or 0.7 percent, at 18,530 after rising half a percent in the previous session.

In corporate news, wind turbine maker Nordex Group rose 1.3 percent after receiving an additional order for 141.6 MW divided into 24 N163/5.X turbines from Spanish Aquila Clean Energy.

Adidas added 1 percent. The sportswear giant confirmed its preliminary second-quarter figures and backed its sales and earnings guidance for the year.

Healthcare group Fresenius rallied 2.1 percent after beating Q2 view and confirming FY24 outlook.

TeamViewer surged more than 12 percent. The provider of remote connectivity solutions reiterated annual revenue guidance after Q2 revenue beat expectations.

Medical technology company Siemens Healthineers plunged 7 percent after missing Q3 sales and earnings forecasts.