German equities rise on encouraging US data

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German stocks climbed on Thursday on encouraging news from the UK and US. US jobless claims dropped last week while US durable goods orders soared by 9.9% last month. Better-than-expected quarterly results of large European companies also lifted German equities. The DAX Index jumped 0.72% and is currently trading at 7,244.61. Five out of nine sectors included in the index climbed. Basic materials and consumer services were the best-performers. BASF soared 1.92% after stating that its earnings before interest, taxes and one-off items advanced by 5.4%, beating analysts' expectations. At the same time, Daimler was the top loser, tumbling by 2.90%. The auto producer lowered its earnings guidance for this year. The company also announced that its full-year Ebit will fall by 11%.

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Fri, 26 Oct 2012 06:31:48 GMT

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