DAX

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Source: Dukascopy Bank SA
European stocks advanced for the second consecutive day, rebounding from its earlier losses, as lawmakers in the U.S. continue debating on the budget plans to avert the so called fiscal cliff and growing optimism on the Eurozone as Spain officially requested a bailout. The German DAX index gained 0.03%, or 2.06 points, to 7,437.27 continuing to rise towards its 2011 highs. Experts say the German companies still look cheap, yet, forecasting an upward trend based on quality, competitiveness and desirability on what it exports. Six sectors out of nine stepped higher with consumer Services, Utilities and Financials in the leading positions by adding 1.35%, 0.61% and 0.60%, respectively. Among companies performing the best was Deutsche Lufthansa posting a 4% gain, Deutsche Bank by surging 1.65% and Commerzbank that soared 1.46%.


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