German stocks climb on Monday

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German stocks jumped on Monday after Greece managed to approve spending cuts and tax increases on Sunday. However, cautiousness persisted as euro-area finance ministers will have to agree on the new loans to Greece later in the day. The DAX Index gained 0.31% and is currently trading at 7,185.48. Seven in nine sectors within the index moved higher. Utilities and consumer services led gains in DAX index. E.ON and RWE jumped 1% and 0.66%, while Deutsche Lufthansa climbed 0.41%. Deutsche Lufthansa reported that its October passenger volume soared 2.7% on an annual basis. Sending German blue chips lower, consumer goods and technology companies retreated, with Continental losing 0.72%.


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