DAX Modestly Higher Ahead Of Eurozone Inflation Data

DAX

German stocks were modestly higher in cautious trade on Tuesday ahead of the release of Eurozone final inflation data later in the day.

Meanwhile, Germanys producer prices continued to decrease on weaker energy prices in July but the overall pace of fall in producer prices slowed further, data from Destatis revealed earlier today.

The annual fall in producer prices halved to 0.8 percent in July from 1.6 percent in June, matching expectations.

Producer prices have been falling since July 2023 and the latest drop was the slowest in the current sequence of decline.

Producer prices in July were up 0.2 percent on month, the same as in June.

The benchmark DAX was up 37 points, or 0.2 percent, at 18,458 after rising half a percent the previous day.

In corporate news, Nordex rose over 1 percent after it received five turbine orders from Akfen Renewable Energy for a total of 102MW for several wind farm extensions in Turkey.

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