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DAX Rebounds In Cautious Trade

German shares eked out modest gains on Wednesday after the U.S. markets recovered from an early plunge to finish sharply higher overnight.

Asian stock markets turned in a mixed performance and U.S. stock futures traded lower, keeping underlying sentiment somewhat cautious.

The benchmark DAX was up 38 points or 0.31 percent at 12,431 in opening deals after tumbling as much as 2.3 percent in the previous session.

Reinsurer Hannover Re rallied 1.8 percent on saying it was optimistic for 2018.

Osram Licht was trading flat, erasing earlier gains. The manufacturer of lamps, lighting systems and electronics control gears forecast fiscal 2018 revenue to increase between 5.5 percent and 7.5 percent.

On the economic front, German industrial production declined in December but the momentum was strong throughout the year 2017, official data showed.

Industrial output slid 0.6 percent month-on-month, in contrast to a revised 3.1 percent rise in November. Output was forecast to drop 0.5 percent.

by RTT Staff Writer

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