German stocks climb on Fed decision

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Source: Dukascopy Bank SA

German stocks surged on Friday as market sentiment was boosted by Fed's announcement about the new round of QE. The Fed reported that it will spend USD40 billion monthly to purchase mortgage-backed securities to stimulate faltering economic growth. The German DAX Index added 1.50% to trade at 7,414.47. Eight out of nine business sectors included in the index advanced. The top-gainers were consumer goods and financials. Metro and Adidas climbed 1.33% and 1.14% while Commerzbank and Deutsche Bank rising 4.65% and 4.41%. At the same time, health care sectors dragged the German blue chips index lower. Fresenius SE & Co and Fresenius Medical Care AG & Co slumped 1.82% and 2.40%.

 

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