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DAX Holds Steady Despite North Korea's Threat To Cancel Summit

German stocks were modestly higher on Wednesday despite North Korea threatening to scrap a historic summit next month between its leader Kim Jong Un and U.S. President Donald Trump.

The benchmark DAX was up 27 points or 0.20 percent at 12,996 in opening deals after declining 0.1 percent on Tuesday.

Leoni shares jumped 3.4 percent. The provider of energy and data management solutions in the automotive market reiterated its FY18 outlook after its consolidated net income for the first quarter rose 19.1 percent.

Wirecard shed 0.7 percent. The provider of electronic payment and risk management applications affirmed its FY18 outlook after reporting a 46 percent increase in first-quarter earnings after tax.

In economic releases, German consumer price inflation held steady in April, as previously estimated, final data from Destatis showed.

Consumer prices climbed 1.6 percent year-on-year in April, the same rate of increase as seen in March and in line with the estimate released on April 30.

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