Markets

DAX Rises On Trade Optimism

(RTTNews) - German stocks rose on Wednesday amid fresh optimism over upcoming U.-S.-China trade talks after China announced exemptions for 16 types of U.S. products from additional retaliatory duties.

Investors also looked ahead to key central bank policy announcements, including the European Central Bank on Thursday and the U.S. Federal Reserve next week.

Analysts are split over what to expect from the European Central Bank (ECB) on Thursday, while the Federal Reserve is expected to cut interest rates once again when it meets next week.

The benchmark DAX was up 96 points, or 0.78 percent, at 12,365 after gaining around 0.4 percent in the previous session.

Trade-sensitive automakers were moving higher, with BMW, Daimler and Volkswagen climbing 1-2 percent.

Banks Commerzbank and Deutsche Bank were up around 1 percent.

Science and technology company Merck KGaA gained 1 percent after it won FDA breakthrough therapy designation for its prospective lung cancer treatment tepotinib.

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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