(RTTNews) - German stocks rallied on Friday, a day after the European Central Bank opened the door to a rate cut in June.
Meanwhile, German consumer price inflation eased to the lowest level in nearly three years, as initially estimated in March amid lower costs for food and energy, final data from Destatis revealed earlier today. Consumer price inflation slowed to 2.2 percent in March from 2.5 percent in February. That was in line with the flash data published earlier.
Moreover, the latest inflation was the weakest since May 2021, when prices had risen the same 2.2 percent.
Inflation, based on the harmonized index of consumer prices, or HICP, slowed to 2.3 percent from 2.7 percent.
The benchmark DAX jumped 204 points, or 1.1 percent, to 18,158 after falling 0.8 percent in the previous session.
Shares of ThyssenKrupp AG surged nearly 4 percent. The industrial engineering and steel company late Thursday announced its loss-making Steel division's structural realignment, including a significant cut in Duisburg's production capacity, as well as jobs that are yet to be quantified.
