German stocks were slightly higher in cautious trade on Monday, as earnings optimism outweighed concerns about aggressive monetary tightening by the Federal Reserve and geopolitical tensions.
Investors also shrugged off data showing that German industrial production declined unexpectedly in December.
Industrial output dropped 0.3 percent month-on-month, in contrast to the 0.3 percent rise in November, Destatis reported. This was the first fall in three months. Economists had forecast a monthly growth of 0.4 percent.
On a yearly basis, industrial production decreased 4.1 percent, following a 2.2 percent drop in the previous month.
The benchmark DAX rose 48 points, or 0.3 percent, to 15,147 after declining 1.8 percent on Friday.
Copper producer Aurubis AG rallied 3 percent after raising its earnings forecast.
Ceconomy plunged 8.4 percent. The consumer electronics retailer reported that its adjusted EBIT, before non-recurring effects, associates and portfolio changes, for the first quarter declined to 274 million euros from 346 million euros in the year-ago period.
DAX Inches Higher Despite Weak Data
2022-02-07 09:10:33
