German stocks climb after peripheral bond yields decline

German stocks gained for a second day after declining yields on Italian and Spanish bonds offset data indicating that Europe's largest economy's manufacturing and service industries suddenly shrank in April. The benchmark DAX Index advanced 0.5% to 7,516.31 as well as the broader HDAX Index added 0.5% today. Meanwhile Italian 10-year government bonds climbed, driving the yield on the securities under 4% for the first time in nearly 3 years and Spanish 10-year bonds advanced for a fifth day, making the yields reach the weakest point since November 2010.