German equities rise; Lufthansa caps gains

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Source: Dukascopy Bank SA
German stocks moved higher on Wednesday ahead of the FOMC minutes release scheduled later in the day. German stock market remained well-supported by Tuesday's upbeat reading of German investor confidence indicator. The DAX index added 0.19% and is currently trading at 7,767.24. Only four in nine industries within the index are trading up. Basic materials are leading gains in DAX Index, with HeidelbergCement AG and BASF SE soaring 2.72% and 1.11%. HeidelbergCement tracked gains of Lafarge, the world's biggest cement maker, which reported upbeat Q4 earnings. Adidas inched up 0.99% after Deutsche Bank raised the firm's price target to EUR81 from EUR70, citing a potential jump in earnings starting from the second quarter of 2013. Pushing DAX Index lower, Deutsche Lufthansa dived 5.00% as the airline will suspend is dividend for the first time in two years amid its cost saving program.
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