German stocks gain ahead of US services data

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Source: Dukascopy Bank SA
German equities rebounded on Tuesday ahead of the US services industry growth data due later in the day. However, persistent concerns over political uncertainty in Spain and looming ECB press conference capped gains of German blue chips. The DAX Index climbed 0.31% and is currently trading at 7,662.63. However, only three industries out of nine jumped. Utilities and financials led gains. E.ON and RWE surged 0.75% and 0.93%, while Muenchener Rueckversicherungs soared 2.58%. Muenchener Rueckversicherungs advanced after announcing an increase in its dividend and reporting better-than-expected full-year results. On the downside, Infineon Technologies and Adidas sagged 1.70% and 0.93%. Meanwhile, Deutsche Lufthansa dragged consumer services lower, retreating 0.66%.
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Tue, 05 Feb 2013 16:08:04 GMT

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