DAX Edges Higher In Cautious Trade

German stocks edged higher in cautious trade Wednesday as Treasury yields slipped back ahead of a wave of U.S economic data as well as the minutes from the Federal Reserve's recent meeting due later in the day.

Closer home, Germany's closely watched Ifo business indicator due later in the day may illustrate the impact of resurgent Covid caseloads.

The benchmark DAX was marginally higher at 15,952 after declining 1.1 percent in the previous session.

Banks traded mixed, with Deutsche Bank rising 1 percent while Commerzbank was down about half a percent.

Aareal Bank edged down slightly after its supervisory board chair, Marija Korsch, resigned from her role.

Automakers were broadly lower, with Volkswagen falling more than 1 percent.

Drägerwerk AG & Co. KGaA slumped 14 percent after saying it expects a decline in net sales and earnings for the coming fiscal year.

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