German stocks climb after ZEW report

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Source: Dukascopy Bank SA
German shares are trading in the positive territory after better-than-expected reading of ZEW Indicator of Economic Sentiment. The ZEW Centre of Economic Research reported that its index of German economic sentiment jumped by 16.7 points to 48.2 in February, compared to estimates of a 4.3-point gain. The DAX Index advanced 0.78% and is currently trading at 7,688.09. Seven out of nine industries climbed. The top-performers were basic materials and consumer services, jumping 1.94% and 1.21%. BASF and K+S rose 1.71% and 1.57%, while Deutsche Lufthansa added 1.15%. Bayer gained the most among 30 companies included in DAX Index. Bayer advanced 2.74% after the firm started a new Phase 3 trial for the Eylea blindness treatment. On the downside, utilities and telecommunications slid 0.92% and 0.17%. E.ON and RWE dipped 1.32% and 0.58%, while Deutsche Telekom slumped 0.29%.
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