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DAX Extends Gains As Inflation Worries Ease
(RTTNews) - German stocks extended gains on Wednesday as investors remained upbeat about a post-COVID recovery in China.
Traders also awaited the release of the minutes from the Fed's Dec. 13-14 policy meeting later in the day as well as other key economic data expected to offer additional clues about the economic and interest-rate outlook.
Meanwhile, German import price inflation weakened more than expected to the lowest in nearly one-and-a half years in November, figures from Destatis showed earlier today.
Import price inflation eased sharply to 14.5 percent in November from 23.5 percent in October. This was the lowest rate since June 2021, when prices gained 12.9 percent.
Export price inflation also slowed in November, but at a much moderate pace to 11.6 percent in November from 13.1 percent.
The benchmark DAX jumped 169 points, or 1.2 percent, to 14,351 after closing 0.8 percent higher the previous day.
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