DAX Edges Higher As Factory Orders Rebound
(RTTNews) - German stocks edged up slightly on Tuesday after official data showed factory orders unexpectedly rebounded in December.
German factory orders registered a monthly expansion of 8.9 percent after remaining unchanged in November. Orders were forecast to fall 0.1 percent.
Domestic orders surged 9.4 percent and foreign orders grew 8.5 percent.
On a yearly basis, factory orders advanced 2.7 percent, in contrast to the 4.7 percent decline a month ago.
The benchmark DAX was up 18 points, or 0.1 percent, at 16,922 after finishing marginally lower in the previous session.
Beiersdorf rallied 2.2 percent. The maker and retailer of personal-care products and pressure-sensitive adhesives proposed higher dividend and announced a share buyback plan.
IT company Bechtle added half a percent after reporting higher preliminary earnings before tax and revenue for fiscal 2023.
Semiconductor company Infineon Technologies declined 1.7 percent after cutting its FY24 outlook.
Aurubis, a supplier of non-ferrous metal, climbed 3 percent after confirming its FY outlook.
