DAX Gains With Focus On Fed Meeting

(RTTNews) - German stocks were modestly higher on Friday, heading into next week's FOMC meeting, where a 25-bps interest-rate cut is expected.

The euro edge higher after ECB policymakers signaled no further rate cuts in the immediate future.

ECB official Joachim Nagel stated that inflation in the euro zone is going in the right direction and the inflation target is likely to be reached at the end of next year.

The benchmark DAX was up 72 points, or 0.4 percent, at 18,590 after rallying 1 percent in the previous session.

Commerzbank shares rallied 2.2 percent. The head of Germany's central bank said that authorities would take a "very close look" at UniCredit's overtures to potentially buy the German bank.