Markets

DAX Rises After China Data

(RTTNews) - German stocks rose modestly on Friday as upbeat manufacturing data from China helped offset investor concerns over prospects of a U.S.-China trade pact.

A private survey showed factory activity in China expanded at its quickest pace since February 2017. The Caixin/Markit manufacturing PMI rose to 51.7 in October from 51.4 for September, as production and new orders both expanded at a faster pace.

On the trade front, optimism over a concrete US-China trade deal faded after a Bloomberg report suggested that Chinese officials are unwilling to budge on the thorniest issues and have cast doubts about reaching a comprehensive long-term trade agreement.

Investors appeared somewhat soothed by U.S. President Trump's comments that the U.S. and China are working on a new site to sign phase one of the trade deal.

The benchmark DAX was up 54 points, or 0.42 percent, at 12,920 after declining 0.3 percent the previous day.

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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