DAX Inches Higher As Consumer Sentiment Improves

(RTTNews) - German stocks were seeing modest gains on Wednesday after a measure of consumer sentiment edged up from an all-time low in May.

Market research group GfK said its forward-looking consumer sentiment index rose to -26.0 in June from a revised -26.6 in May. The latest survey was conducted from May 5 to 16.

The benchmark DAX rose 41 points, or 0.3 percent, to 13,960 after losing 1.8 percent the previous day.

The FUCHS Group added 1.5 percent after an announcement that it has taken over 28 percent of the shares in E-Lyte Innovations GmbH.

Nordex slumped nearly 18 percent after the wind turbine manufacturer revised down its outlook for this year, due in part to restructuring costs and the war in Ukraine. Tech stocks fell, with Infineon Technologies down almost 3 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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