German stocks rally after positive GDP data

Note: This section contains information in English only.
Source: Dukascopy Bank SA

German stocks jumped on Monday on inspiring German GDP data. German GDP expanded by 0.3% in Q2 compared to a 0.2% growth widely expected. However, an unexpected decline in German investor sentiment index capped the upswing. The German DAX Index gained 0.81% to trade at 6,965.53 at GMT 12:00. Eight out of nine industries included in the index posted gains. The largest gainers were telecommunications and health care companies. Deutsche Telecom and Fresenius Medical Care AG surged by 1.59% and 0.53%. Financials were mixed as Deutsche Bank lost 0.02% while Commerzbank gained 0.17%. Utility companies were the weakest, with E.ON inching up 0.23% and RWE falling by 0.59%.

 

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