German shares rally as interest rates unchanged

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Source: Dukascopy Bank SA
German equities climbed as the ECB left interest rates unchanged and better-than-expected corporate earnings. The DAX index climbed 0.4% to 7,608.78 points. All but two sectors in the index edged higher with consumer goods rallying the most in the index. Among best performers were HeidelbergCement AG that surged 5.1% and Lanxess AG that advanced 4% to pace gains in basic materials. Heidelberg rose after reporting fourth-quarter earnings and sales that topped analysts' estimates. Meanwhile, Daimler AG soared 3.7% adding to gains in consumer goods sector that was 1.4% higher. Alongside to that, Commerzbank paired biggest losses in the equity index, as it fell 1.6%, followed by Deutsche Bank that erased 1.4%, both triggering a 0.1% decline in financial shares. Furthermore, Muenchener Versicherungs AG, a provider of financial services, eased 1.4% also contributing to the slump in financials.
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