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DAX Gains Ahead Of PMI Data

2024-12-19iFOREXiFOREX
German stocks inched higher on Wednesday ahead of German and Eurozone final composite PMI data due later in the day."/> <meta property="og:site_name" content="Myfxbook.com
DAX Gains Ahead Of PMI Data

(RTTNews) - German stocks inched higher on Wednesday ahead of German and Eurozone final composite PMI data due later in the day.

The German composite indicator is set to match the initial reading of 47.3 in November, down from 48.6 in the previous month.

Economists expect Eurozone final composite PMI to drop to 48.1 in November from 50.0 in the previous month.

The benchmark DAX was up 116 points, or 0.6 percent, at 20,133 after gaining 0.4 percent to close at a record high the previous day.

BMW, Mercedes Benz and Volkswagen were up between half a percent and 1 percent as many auto companies announce restructuring efforts amid high operating costs and slumping demand.

Lender Commerzbank rallied 1.5 percent and peer Deutsche Bank was up 0.7 percent.

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