DAX Modestly Higher In Cautious Trade
German stocks eked out modest gains on Wednesday as investors awaited the Federal Reserve's latest policy decision later today.
No major changes are expected, but the focus will be on the Fed's economic outlook and chairman Jerome Powell's speech.
Policymakers will publish their first economic projections since the Covid-19 pandemic set off a recession in February.
The benchmark DAX rose by 45 points, or 0.35 percent, to 12,662 after losing about 1.6 percent the previous day.
Commerzbank rallied 2.4 percent after U.S. activist investor Cerberus reportedly called for two seats on its supervisory board and demanded immediate action on turning around the bank's fortunes.
Deutsche Bank climbed 2.7 percent after Reuters reported that the European Central Bank is drawing up a "bad bank" scheme to cope with potentially hundreds of billions of euros of unpaid loans due to the coronavirus crisis.
Hornbach Holding AG & Co. KGaA Group surged 6.6 percent after reporting substantial sales and earnings growth in the first quarter of 2020/21.
Reprinted from RTTNews，the copyright all reserved by the original author.
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