BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks traded slightly higher on Tuesday as an ECB survey showed consumers lowered their inflation expectations last month.
Eurozone consumers' expectations for inflation in the next 12 months eased to 2.9 percent from 3.0 percent a month earlier to hit their lowest level since September 2021.
Meanwhile, Germany's wholesale prices declined at a slower pace in April, separate data published by Destatis revealed.
Wholesale prices dropped 1.8 percent on a yearly basis in April, following the 3.0 percent decline in March.
Wholesale prices have been falling since April 2023 and the latest decrease was the slowest in the current sequence of decline.
The statistical office rebased wholesale selling prices to the new base year 2021.
The benchmark DAX was up 54 points, or 0.3 percent, at 18,828 after gaining 0.4 percent in the previous session.
Thyssenkrupp shares rose nearly 2 percent. Thyssenkrupp Materials Services, a part of the German industrial, said its Chairman Martin Stillger has decided to resign from his position effective May 31, 2024, on mutual agreement.
Evotec was marginally higher after announcing extension of its 20-year collaboration with CHDI Foundation, Inc.
Flavor and fragrance maker Symrise rallied 2.4 percent as Deutsche Bank raised its rating on the stock.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
