(RTTNews) - German stocks were modestly higher on Friday after European Central Bank policymaker Yannis Stournaras said he sees three rate cuts in 2024.
Stournaras reportedly said in an interview that three rate cuts in 2024 is the more likely scenario after considering recent growth and inflation data.
The benchmark DAX was up 62 points, or 0.4 percent, at 17,958 after losing 0.2 percent in the previous session.
In corporate news, Daimler Truck Holding slumped 5 percent after reporting a decline in Q1 global sales.
Deutsche Wohnen dropped 1.2 percent. The real estate company registered a net profit for the first quarter of 99.3 million euros, compared with a loss of 667.9 million euros, posted for the same period last year.
Krones, a packaging and bottling machine maker, declined 1.4 percent despite posting higher Q1 profit and confirming its FY24 outlook.
