German stocks rose modestly on Friday as investors awaited Fed Chair Jerome Powells Jackson Hole speech later in the day for confirmation U.S. rate cuts would start in September.
With a recession looming large on the economy and inflationary pressures abating, markets currently expect the U.S. Federal Reserve to deliver three quarter-point rate cuts at each of the remaining three meetings of 2024.
The benchmark DAX was up 71 points, or 0.4 percent, at 18,564 after closing up 0.2 percent in the previous session.
Chipmaker Infineon Technologies fell 1.2 percent after it agreed to pay 753.5 million euros ($837.21 million) to settle a long-pending legal dispute with Qimonda AGs insolvency administrator.