German stocks recorded slight gains on Friday as investors digested mixed earnings reports and looked forward to the U.S. June Personal Consumption Expenditures (PCE) data release for further market direction.
The DAX, Germany's benchmark index, climbed 55 points or 0.3% to 18,353, recovering from a 0.5% loss the previous day.
Luxury car manufacturer Mercedes-Benz saw its shares rise by 0.5% amid volatile trading, despite lowering its 2024 profit outlook for its core automotive segment.
Patrizia SE, a real estate investment firm, experienced a 0.7% uptick. The company has appointed Martin Praum as the new Chief Financial Officer, succeeding Christoph Glaser, who currently holds the dual roles of CFO and Chief Operating Officer.
Shares of Hensoldt, a provider of defense and security electronic sensor solutions, also rose by 0.7% following their report of a 17% increase in first-half revenue.
On the downside, chemical company Wacker Chemie saw a 0.5% decline in its share price after announcing a drop in second-quarter net income.
BASF Group's shares fell by 2.4% after the company reported subdued growth in adjusted earnings for the second quarter.
