German stocks saw a slight increase in cautious trading on Friday morning, as investors closely awaited the U.S. non-farm payroll data for greater insight into the Federal Reserve's potential decisions regarding interest rates.
The atmosphere remained quite subdued, largely due to the absence of significant new economic and corporate developments and the recent increase in yields on Germany's long-term 10-year bonds, which hit multi-month highs.
The U.S. employment report is expected to indicate a slowdown in December’s job growth, although the unemployment rate is anticipated to remain steady at 4.2%. This aligns with the Federal Reserve's cautious approach to interest rate reductions this year.
At a recent reading, the DAX index was marginally higher, up by 3.53 points, or 0.02%, at 20,322.90.
A few notable movers included Deutsche Telekom, which rose by 1.5%, and Continental, which gained around 1.2%. Fresenius Medical Care, Mercedes-Benz, Siemens Energy, Bayer, and Symrise also saw increases, ranging from 0.5% to 0.7%.
On the downside, Zalando decreased by approximately 2.7%, while E.ON declined by 2%. Other decliners included Porsche, RWE, Puma, Munich RE, Daimler Truck Holding, and HeidelbergCement, with losses between 0.6% and 1.5%.
In the midcap segment, Kion Group, Freenet, and Nordex reported gains of 1%, 1.2%, and 2.3%, respectively, while Delivery Hero experienced a decline of nearly 1%.
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