DAX Little Changed Amid Mixed Catalysts

German stocks were little changed on Wednesday, as disappointing quarterly updates from U.S. tech giants IBM and Netflix offset better-than-expected GDP data from China.

While IBM reported a bigger-than-expected drop in first-quarter revenue, Netflix gave disappointing guidance for the second quarter.

China’s GDP grew an annual 6.4 percent in the first quarter of 2019 – unchanged from Q4 and beating forecasts for 6.3 percent.

The benchmark DAX was marginally higher at 12,101 in opening deals after climbing 0.7 percent in the previous session.

Commerzbank jumped 3 percent on reports that Dutch bank ING approached the German lender about a possible tie-up.

Apple supplier Dialog Semiconductor rose about 1 percent after Apple Inc and Qualcomm Inc decided to settle their royalty dispute.

In economic releases, consumer price inflation in the euro zone rose an annual 1.4 percent in March, Eurostat’s final reading showed, confirming the flash estimate.