DAX Modestly Higher In Cautious Trade

(RTTNews) - German stocks eked out modest gains on Friday after the release of latest unemployment as well as import and export price data.

The number of people out of work in Germany rose more than expected in June, Federal Labour Office figures showed.

Import prices declined at the weakest pace in the current sequence of decreases, which started in March 2023, data released by Destatis showed.

Export prices registered an annual increase of 0.2 percent after a 0.2 percent drop in April. This marked the first rise in two years.

The German DAX was up 79 points, or 0.4 percent, at 18,289 after closing up 0.3 percent in the previous session.

In corporate news, Deutsche Beteiligungs shares plunged 5.4 percent. The capital market company said it plans to issue convertible bonds due 2030 in an aggregate principal amount of 100 million euros.

The bonds are convertible into new and/or existing no-par value registered shares in the company.

Delivery Hero SE shares fell 2.3 percent. The online food delivery platform has announced that Marie-Anne Popp will take on the responsibility of interim Chief Financial Officer (CFO), effective from 1st July 2024 after current CFO Emmanuel Thomassin resigned with immediate effect to pursue other opportunities.