The German market is moderately higher in afternoon trading Tuesday, as investors remained optimistic about policy actions from central banks to support the economy and data showed that Eurozone producer price inflation eased to the lowest level in more than two years in May.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.35 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.37 percent.
The DAX index opened higher and is currently adding 0.70 percent.
ThyssenKrupp is adding 3.4 percent. Outside the main index, Salzgitter is climbing 3.6 percent.
K+S is rising 2.2 percent and Allianz is adding 2.1 percent.
Deutsche Bank is gaining 1.3 percent and Commerzbank is up 0.3 percent.
Deutsche Boerse is losing 1 percent. Linde and E.ON are moderately lower. Kepler raised Linde to "Buy" from "Hold."
Axel Springer is gaining 2.5 percent. Berenberg raised the stock to "Buy" from "Hold."
Klöckner is climbing 3.1 percent. Kepler cut the stock to "Reduce" from "Buy."
Elsewhere in Europe, the French CAC 40 is adding 0.16 percent and the UK's FTSE 100 is gaining 0.24 percent. Switzerland's SMI is gaining 0.61 percent.
In economic news from the eurozone, the producer price inflation in the domestic market eased to 2.3 percent in May from 2.6 percent in April. This is the weakest rate since March 2010. On a monthly basis, the producer price index fell 0.5 percent, following a 0.1 percent gain in the preceding month.
The subdued inflation figures have fueled hopes for an interest rate cut by the European Central Bank in the upcoming meeting on Thursday.
Across Asia, markets ended in the green. China's Shanghai Composite Index gained 0.1 percent, Hong Kong's Hang Seng climbed 1.5 percent and Japan's Nikkei 225 rose 0.70 percent. Australia's All Ordinaries slipped 0.15 percent.
In the U.S., futures point to a mixed open on Wall Street. In the previous session, the major averages bounced back and forth across the unchanged line before ending the session mixed. The Dow edged down 0.1 percent, while the Nasdaq rose 0.6 percent and the S&P 500 crept up 0.3 percent.
In the commodity space, crude for August delivery is adding $1.67 to $85.42 per barrel and August gold is gaining $12.6 to $1610.3 a troy ounce.
by RTT Staff Writer
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