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DAX Inches Higher In Cautious Trade

German stocks edged higher on Thursday as investors monitor Brexit headlines amid hopes a much-anticipated EU leaders' summit might conclude in a deal.

German Chancellor Angela Merkel has said Brexit negotiations will continue "until the last second", and raised the possibility of a "special summit", in a bid to secure a deal before Halloween.

The British pound fell against the dollar and euro after Northern Ireland's Democratic Unionist Party announced it cannot support Boris Johnson's current Brexit plan.

"As things stand, we could not support what is being suggested on customs and consent issues, and there is a lack of clarity on VAT (value-added tax)," the DUP said in a brief statement on Twitter.

The benchmark DAX was up 34 points, or 0.27 percent, at 12,704 after rising 0.3 percent the previous day.

Heavyweight banks traded flat after a recent drop in U.S. and European bond yields.

Automakers BMW, Daimler and Volkswagen rose between 0.6 percent and 0.8 percent.

Cloud and ICT provider QSC AG advanced 0.8 percent on news that Chief Financial Officer Stefan Baustert, aged 63, will be leaving the company as of December 31, 2019.

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