German shares climb as ZEW index beat expectations

Source: Dukascopy Bank SA
© Scanpix/Reuters
German shares rallied on Tuesday on larger than expected increase in German economic sentiment. German ZEW economic sentiment index improved to minus 11.5 this month, beating expectations of a reading of minus 15.0. Moreover, two German officials announced that the country is open for Spain searching for precautionary credit line. The DAX Index soared 1.31% and is currently trading at 7,356.71. Seven out of nine sectors included in the index advanced. The top-gainers were financials and technology firms. Commerzbank and Deutsche Bank climbed 3.41% and 3.67% while SAP jumped 1.33%. On the downside were telecommunications and auto makers. Deutsche Telekom plunged 0.06%. Daimler and Continental sank 0.16% and 3.08% on news that European car sales plunged to three-year low.


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