German stocks climb on upbeat Lufthansa results

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German stocks moved higher on Wednesday on positive data from the national economy. German retail sales soared 1.5% versus forecast of a 0.4% increase in September. However, an unexpected rise in the eurozone's jobless rate capped the upswing of the German blue chips. The DAX Index jumped 0.54% and is currently trading at 7,323.99. Seven out of nine sectors included in the index gained. Consumer services sector advanced the most, boosted by a rally of Deutsche Lufthansa. Deutsche Lufthansa surged 6.83% after posting a 6.2% rise in Q3 operating profit as cost-saving measures helped the airline to increase earnings. Sending the DAX index lower, basic materials and health care both lost 2.20%. Lanxess and Linde slumped 0.59% and 0.46% while Fresenius Medical Care and Fresenius SE & Co dropped 3.40% and 1.89%.


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Wed, 31 Oct 2012 16:26:00 GMT

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Fri, 02 Nov 2012 09:39:49 GMT

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Destatis reported on Wednesday that Germany's retail sales grew more than expected in September. Retail sales advanced by 1.5% on a seasonally adjusted basis last month, compared to a revised down figure of 0.1% in the preceding month. Economists, however, expected a more moderate increase of 0.3%.

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