German stocks higher on the Eurogroup meeting

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Source: Dukascopy Bank SA
German equities climbed as Eurozone finance ministers meet today to discuss policies on resolving the debt crisis. The DAX index advanced 06% to 7,746.18 by 16:04 GMT. All groups in the index surged with the consumer services shares posting biggest gains. Deutsche Lufthansa rallied 3.5% after Credit Suisse Group AG increased the company's price target. The latter increase supported the best performing consumer services sector. Furthermore, K+S AG jumped 1.2% to pace gains in the basic materials group that was 0.7% up. E. ON SE, German second biggest utility, rose 1.16% contributing to the 1.1% increase in the utilities group. Meanwhile, Adidas AG erased 1.03% as a gauge of household and personal goods dropped the most in the Stoxx Europe 600 Index. Daimler, the luxury car manufacturer based in Stuttgart, lost 0.53%, even though the company's Turkish unit chief executive Wolf-Dieter Kurz stated that Mercedes Benz Turk AS expects car and van sales to improve this year.
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Tue, 22 Jan 2013 08:04:04 GMT

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Mon, 21 Jan 2013 16:37:49 GMT

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