DAX Modestly Higher In Cautious Trade

(RTTNews) - German stocks were seeing modest gains on Monday ahead of a busy week packed with earnings, economic data releases and speeches by Federal Reserve officials.

Amid waning optimism over early Fed rate cuts, investors will scrutinize the January U.S. inflation data due on Tuesday for more clues on the Fed's rate trajectory.

The benchmark DAX was up 69 points, or 0.4 percent, at 16,995 after declining 0.2 percent on Friday.

In corporate news, Nordex SE shares jumped 6.3 percent.

The wind turbine manufacturer reported that its preliminary consolidated sales for fiscal year 2023 was 6.5 billion euros and exceeded the upper end of the forecast range of 5.6 billion euro to 6.1 billion euro.

The company reported 5.7 billion euros in the previous year.