\n<\/p>\n
German stocks are up firmly in positive territory a little past noon on Friday, despite rising trade tensions, and uncertainty surrounding the nation’s spending plans. Investors are digesting the nation’s inflation data and some corporate earnings updates.<\/p>\n
The benchmark index DAX, which climbed to 22,731.72, was up 165.12 points or 0.73% at 22,698.10 a little while ago.<\/p>\n
Rheinmetall is gaining 4.3% and Adidas is rising nearly 3%. Siemens Healthineers, Fresenius Medical Care, Zalando, MTU Aero Engines, Heidelberg Materials, BASF, Bayer and Commerzbank are up 1 to 2%.<\/p>\n
Daimler Truck is gaining nearly 1.5%, despite reporting a 15% drop in adjusted earnings for fiscal year 2024. The company has forecast that adjusted operating profit would rise by 5% – 15% in 2025.<\/p>\n
Daimler has also launched a billion-dollar cost-cutting programme in Europe after a poor performance in the region weighed on earnings. The efficiency programme will result in a reduction of recurring costs for Mercedes-Benz Trucks in Europe of over 1 billion euros ($1.08 billion) by 2030 at the latest, the company said.<\/p>\n
BMW is down 1.7% on weak results. The automajor’s net profit fell 40.9% to 1.55 billion euros in the fourth-quarter, from last year’s 2.61 billion euros. Earnings per share of common stock were 2.41 euros, down 36.1% from prior year’s 3.77 euros.<\/p>\n
Profit before financial result or EBIT plunged 57.3 percent to 1.88 billion euros from 4.41 billion euros a year ago. EBT margin declined 2.8 percentage points to 5.8% from 8.6% a year earlier.<\/p>\n
Siemens Energy and Qiagen are lower by 1.1% and 1%, respectively. Deutsche Bank, Volkswagen, Hannover Rueck and Infineon are down 0.5 to 0.7%.<\/p>\n
Data from the statistical office Destatis showed Germany’s consumer price index rose 2.3% year-on-year in February, the same as in January. That was in line with the flash data published on February 28. <\/p>\n
Food inflation rose to 2.4% from 0.8%, while costs for energy products were 1.6% cheaper compared to last year. Prices for services were 3.8% more expensive.<\/p>\n
Core inflation, which excludes food and energy prices, eased to 2.7% in February, remaining above the general inflation trend.<\/p>\n
On a monthly basis, consumer prices rose 0.4% in February after falling 0.2% in the previous month, as estimated.<\/p>\n
The harmonized index of consumer prices rose 2.6% in February, slower than January’s 2.8% rise. In the flash report, the inflation rate was also 2.8%. Monthly, the HICP rose 0.5%, revised down from 0.6%. <\/p>\n<\/p>\n<\/div>\n