German stocks erase previous losses on Friday

Source: Dukascopy Bank SA

German equities rose on Friday on hopes that Spain will unveil its reform plan that will allow the country to apply for another bailout. However, recent weak PMI releases and poor data from the US job market capped the upswing of the German stock index. The German DAX Index added 0.25% and is trading at 7,446.82. Five out of nine business sectors included in the index climbed. The top-gainers were financials and basic materials. Commerzbank and Deutsche Bank rose 0.71% and 0.10% while BASF and HeidelbergCement jumped 0.93% and 1.79%.

 

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