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DAX Rebounds As Trade Tensions Ease

German stocks were moving up on Friday as trade tensions eased and strong Chinese trade data helped eased concerns over slowing global growth.

Media reports suggested that the U.S. Treasury Department has not labeled China as a currency manipulator in an internal report.

A meeting between U.S. President Donald Trump and Chinese President Xi Jinping at a multilateral summit in November is "under discussion," top economic adviser Larry Kudlow told reporters at the White House.

Meanwhile, China's exports logged a double-digit growth in September to beat forecasts despite escalating trade tensions with the U.S., figures from customs administration revealed today.

The benchmark DAX was up 62 points or 0.54 percent at 11,601 in opening deals after declining 1.5 percent in the previous session.

Automakers rebounded from recent heavy losses, with BMW, Daimler and Volkswagen rising between 0.3 percent and 0.7 percent.

Online retailer Zalando jumped more than 4 percent after Credit Suisse Group set a €40.00 ($46.51) price target on the stock.

In economic releases, Germany's consumer price inflation accelerated to its highest level in nearly seven years in September, final data from Destatis revealed.

Consumer prices advanced 2.3 percent year-on-year year, the fastest since November 2011, when inflation was 2.4 percent. Month-on-month, inflation rose to 0.4 percent from 0.1 percent in August.

Eurostat is scheduled to issue industrial output figures for August later today, with economists expecting output to fall 0.3 percent on year, bigger than the 0.1 percent decrease in July.

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