Shares of industrial and transportation companies rose after wholesale inflation data suggested cost pressures on the sector were diminishing.
The producer-price index, which generally reflects supply conditions in the economy, increased by 9.8% annually in July, the Labor Department said.
German industrial conglomerate Siemens cut posted a fiscal third-quarter loss due to an impairment on its investment in Siemens Energy.
German freight shipping line Hapag-Lloyd said higher shipping rates generated a sharp increase in second-quarter profit.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-11-22 1628ET
