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DAX Edges Higher Ahead Of US Inflation Data

German shares edged higher on Tuesday, although overall gains remained muted ahead of U.S. consumer inflation data due later in the day. The Federal Reserve is expected to raise interest rates four times this year if inflation picks up.

The benchmark DAX was up 26 points or 0.21 percent at 12,444 in opening deals after rising 0.6 percent in the previous session.

E.ON surged nearly 6 percent. The utility announced a special dividend to shareholders after posting turnaround results for 2017.

Specialty chemical producer Wacker Chemie slumped 4 percent after saying it aims to lift its 2018 sales by a low single-digit percentage.

Fraport rose half a percent after unveiling passenger traffic figures for February.

Life sciences company MorphoSys rallied 2.4 percent despite the company posting a wider loss in 2017.

Re-insurer Hannover tumbled 3.8 percent after its Group net income for fiscal year 2017 declined to 958.6 million euros from last year's 1.171 billion euros.

by RTTNews Staff Writer

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