German equities climb on upbeat PMI data

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
German shares rose on Thursday after flash PMI data indicated that the country's manufacturing activity contracted at slower pace this month. However, flash services PMI showed that German services sector shank more-than-expected in November. Easing concerns over Greek bailout after Angela Merkel hinted that the Eurogroup may agree on Greek bailout terms on Monday were supportive for German blue chips. The DAX Index climbed 0.9% and is currently trading at 7,249.47. Eight out of nine sectors included in the index climbed. Consumer services sector was the top-gainer, with Deutsche Lufthansa rallying 4.32% after Barclays raised price target for the firm's share by 12% to EUR11.50. Lenders were also bullish. Commerzbank and Deutsche Bank rose 4.26% and 1.57%. Meanwhile, Siemens added 0.28%, rebounding from a previous fall after Deutsche Bank downgraded its share rating from ‘hold' to ‘sell'.


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