German Industrial Production Scratches Higher; Dax 40 Gains


The German industrial output scraped higher in May following the recorded gains in European trade. Despite the market condition, Dax‘s performance index has also increased. Although the significant drop in energy output as Europe’s largest economy suffers a severe supply crisis. In their minutes, the European Central Bank stated that many members want t a more prominent rate hike in July. They added, “It was broadly agreed that the Governing Council should at this point be more specific about its expectations for the September meeting and, in particular, open the door to an increase in the key ECB interest rates by more than 25 basis points,”

After the breakdown, Porsche, Daimler Truck Holding AG and Mercedes Benz Group AG notably posed gains above 5% for the session. At the same time, Green dominates the sectoral analysis, led by consumer cyclicals and industrials with gains of 4% and 2.3%, respectively.

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