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DAX Rebounds After Tuesday's Selloff

2024-06-07MyfxbookMyfxbook
German stocks were moving higher on Wednesday after suffering heavy losses in the previous session on concerns over heightened geopolitical tensions in the Middle East and uncertainty over the Federal Reserve's rate
DAX Rebounds After Tuesday's Selloff

(RTTNews) - German stocks were moving higher on Wednesday after suffering heavy losses in the previous session on concerns over heightened geopolitical tensions in the Middle East and uncertainty over the Federal Reserve's rate trajectory.

The benchmark DAX was up 84 points, or half a percent, at 17,850 after losing 1.4 percent the previous day.

Adidas jumped 6.4 percent. The sportswear giant upped its full-year guidance after posting better-than-expected preliminary results for the first quarter.

HELLA GmbH & Co. KgaA, an automotive parts supplier, edged up slightly after sales for the first quarter came in unchanged from last year.

Continental lost 4.3 percent after reporting preliminary Q1 results below market expectations.

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