German equities advance on US fiscal optimism

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German equities jumped on Friday despite weak data from the Eurozone and domestic economy. Eurozone's jobless rate approached 11.7% last month, while German retail sales declined by 2.8% on a seasonally adjusted basis, compared to a 0.5% increase in the preceding month. The market sentiment was boosted by hopes that US officials will agree on the budget until Christmas holidays. The DAX Index jumped 0.44% and is currently trading at 7,432.92. Six out of nine sectors within the index climbed. The top-performers were consumer goods and health care sectors. Henkel rose 0.85%, while Fresenius Medical Care and Fresenius advanced 0.97% and 0.65%. On the downside were consumer services, with Deutsche Lufthansa declining 0.66%.


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