DAX Inches Higher As Focus Turns To Fed
(RTTNews) - German stocks edged higher on Tuesday as investors kept a close watch on U.S. stimulus talks and awaited clues from a Federal Reserve meeting.
The U.S. Fed kicks off its two-day meeting later in the day, although no change in policy is expected.
Investors will focus on a press conference by Chairman Jerome Powell for more indications about the policy outlook.
The benchmark DAX rose 48 points, or 0.38 percent, to 12,887 after finishing marginally higher in the previous session.
Fuchs Petrolub AG shares fell over 2 percent. The company engaged in the lubricant business said it expects a drop in earnings in the range of 25 percent for the financial year 2020.
In economic releases, German manufacturers' export expectations strengthened in July, survey data from the ifo institute showed today.
The ifo export expectations index for manufacturing rose to plus 6.9 points in July from minus 2.2 points in June. Cautious optimism is spreading among German exporters, Clemens Fuest, ifo President said.
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