German shares rally as US budget concerns ease

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Source: Dukascopy Bank SA
© Scanpix/Reuters
German blue chips rallied on Monday as concerns over the US fiscal cliff eased after the US President Barack Obama expressed confidence that he will manage to agree with Congress on the new budget. However, the upswing was capped as talks over the Greek bailout are nearing. The eurozone's finance ministers are due to discuss Greek bailout on November 20. The DAX index soared 1.6% and is currently trading at 7,061.67. The top-performers were financials and consumer goods. Commerzbank and Deutsche Boerse rose 4.19% and 1.93%, while Adidas and Henkel climbed 2.24% and 1.46%.

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Mon, 19 Nov 2012 16:12:05 GMT

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