DAX Inches Higher Despite Weak Data
(RTTNews) - German stocks rose on Friday after media reports suggested that U.S. and Mexican officials are making headway to avoid tariffs.
Meanwhile, all eyes were on a crucial jobs report in the U.S. that could reinforce expectations of an interest rate cut in coming months.
Closer home, investors shrugged off weak industrial output and trade figures.
The benchmark DAX was up 73 points or 0.61 percent at 12,026 after declining 0.2 percent the previous day.
Carmakers gained ground, with BMW, Daimler and Volkswagen rising between 0.2 percent and 0.6 percent.
Airline Lufthansa held steady despite oil prices extending overnight gains amid indications that OPEC and allies may extend crude supply cuts.
In economic releases, Germany's industrial output slid 1.9 percent sequentially in April, in contrast to a 0.5 percent rise seen in March, a government report showed. Production was forecast to drop marginally by 0.2 percent.
Germany's exports decreased by seasonally adjusted 3.7 percent month-on-month in April, in contrast to a 1.6 percent rise in March. Imports fell 1.3 percent, reversing March's 0.7 percent increase.
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