German shares climb on upbeat retail sales numbers

Source: Dukascopy Bank SA
German shares moved higher after positive data releases from the domestic economy. German retail sales unexpectedly rose 0.4% last month, beating expectations of a 0.5% decline. Pushing equities lower, German jobless claims rose by a seasonally adjusted 13,000 this month, while analysts had forecast a fall of 4,000. The DAX Index climbed 0.59% and is currently trading at 7,835.30. Six out of nine industries within the index advanced. Basic materials and utilities posted the biggest gains. BASF SE and HeidelbergCement AG rose 0.72% and 0.05%, whereas E.ON SE and RWE AG jumped 1.04% and 0.89%. German stock index was also supported by lenders. Commerzbank AG and Deutsche Bank AG climbed 0.71% and 1.11%. Limiting the upswing, consumer goods dropped 0.50%, with Adidas AG declining 0.08%.
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