German shares up on hopes for euro economy to recover

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Source: Dukascopy Bank SA
German equities extended their gains for a third straight day, as Mario Draghi, the president of ECB, said the euro economy will inch by inch recover throughout this year and policy makers decreased inflation estimates. The DAX index rose 0.2%, or 11.96 points, to 7,931.28 by 5:12 p.m. in Frankfurt. Six out of nine groups in the index edged higher. Adidas AG was the top performer, as its shares rallied 5.02% after the sporting-goods maker forecast higher revenue and earnings in 2013 and increased its dividend by 35%. The company currently works on widening its product range and appealing to emerging markets. Continental AG followed with a 3.7% rally to pace gains in consumer goods that were 0.6% higher. Merck KGaA soared to its highest price level since 1995 when it went public after the drug maker posted higher than expected earnings. The medical company lifted health care sector 1% higher.


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