BRUSSELS (dpa-AFX) - German stocks are gaining notably ground in positive territory on Friday despite data showing a drop in the nation's retail sales in the month of April, and amid uncertainty about Trump administration's tariff moves after U.S. court rulings against the levies proposed by the U.S. President.
'We are already negotiating in [a] quite uncertain environment, with things changing quite rapidly,' Valdis Dombrovskis, European Union commissioner for economy, reportedly told CNBC's Karen Tso.
He described the tariff situation as 'urgent,' and reiterated that the EU was committed to agreeing to a negotiated deal with the U.S.
Investors are also digesting the nation's retail sales data and await a preliminary report on consumer price inflation.
The benchmark DAX was up 191.85 points or 0.8% at 24,160.15 a little while ago.
Rheinmetall is gaining nearly 2%. MTU Aero Engines, SAP, RWE, Symrise, Deutsche Boerse, Siemens, Vonovia and Daimler Truck Holding are up 1 to 1.5%.
Deutsche Bank, Henkel, Beiersdorf, Fresenius, BASF, E.ON, Qiagen and Brenntag are moderately higher.
Fresenius Medical Care, Porsche, Siemens Healthineers and Sartorius are down 0.3 to 0.6%.
Destatis is slated to issue flash consumer price data for May. German inflation is expected to slow marginally to 2.0 percent from 2.1 percent in April.
Data from Destatis showed Germany's retail sales declined unexpectedly in April, decreasing by 1.1% on a monthly basis, after a 0.9% increase in March. Sales were expected to grow 0.3%.
Year-on-year, retail sales growth softened to 2.3% from 3.3% a month ago. Nonetheless, the pace of increase was slower than the forecast of 1.8%.
In e-commerce and mail order, sales in April registered a decline of 0.2% in real terms.
Destatis is slated to issue flash consumer price data for May later in the day. German inflation is expected to slow marginally to 2% from 2.1% in April.
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