German shares rally on U.S. earnings season

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Source: Dukascopy Bank SA
© scanpix/AFP
German shares advanced after Alcoa Inc. started its earnings season in the U.S. with sales beating the analysts' estimates, offsetting the lower-than-expected-industrial production in November. The DAX index gained 0.34% to 7,722.41. Six out of nine sectors advanced. Deutsche Telekom rose 3.96% to its highest price level since October 2012, pacing gains in the telecommunications group that posted the biggest increase in the gauge by rallying 3.34%. Furthermore, Commerzbank surged 2.76%, capping a further decrease in the financials sector. Meanwhile, Lanxess AG erased 2.27% after Citigroup cut its stock rating to sell. Among worst performers were also Fresenius Medical Care AG & Co, dragging down the health care sector by 0.33%. Furthermore, Allianz SE was pacing losses in the financials sector by dropping 1.57%.


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Wed, 09 Jan 2013 18:10:03 GMT

S&P 500

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Wed, 09 Jan 2013 17:48:04 GMT

U.K. stocks edge higher, as U.S. earnings season kicks off

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