German shares up as business confidence rose

Source: Dukascopy Bank SA
German equities advanced reaching their five-year high, as business confidence advanced more than expected in January and ECB released data indicated that banks will repay more than forecast long-term operation loans. The DAX index rose 1.3% to 7,847.91, its highest in five years. All but one group in the index advanced. Bayer AG posted biggest gains of 5.8%, as the chemical makers gauge advanced the most in the index to pace gains in the health care sector that was 0.52% up. Henkel AG & Co followed with a 2.5% rally, reaching its highest since 1992. Meanwhile BASF, the largest chemical manufacturer in the world, added 2.1% and supported basic materials, the best performing group that jumped 2.9%. Alongside to that, E. ON SE paired biggest losses dragging down utility shares that decreased 0.2%. ThyssenKrupp declined 0.95% capping further gains in basic materials. K+S AG, European largest potash distributor, eased 0.9% after Morgan Stanley downgraded its stock to underweight from equal.
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