German equities rise despite Spain's PM comments

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Source: Dukascopy Bank SA

German stocks moved higher on Tuesday despite China's growth cuts and anticipation of the German Constitutional Court decision on whether to leave the ESM. Alarming Spain's PM announcement on extensive intervention of the ECB and EU in its budget deficit cuts capped the upswing of the German stock index. At the same time, hopes for easing in the US provided slight support for German equities. The DAX Index gained 0.21% to trade at 7,234.35. All but one sectors included in the index jumped. The top-gainers were financials and health care companies. Deutsche Bank added 2.37% while Fresenius Medical Care and Fresenius SE & Co climbed 0.07% and 0.71%.

 

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