German shares jump as the nation's economy rebounds

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Source: Dukascopy Bank SA
German shares jumped to their highest level in 19 months after ZEW Center for European Economic Research in Manheim released data that showed investor confidence rose to 6.9, better than the expected gain to minus 11.5, in December compared to last month's minus 15.7.

The DAX index surged 0.75%, or 57.38 points, to 7,587.75 at 16:11 GMT reaching its highest level since May 2011. The gauge has improved 27% since June 5 when it touched its lowest level, as the ECB announced a plan of unlimited bond buying to preserve the Euro currency. All but one sector within the index advanced with Financials postings losses of 0.26%. Among the sectors improving the most were Utilities with a 1.5% increase, Industrials with a 1.29% rally, and Consumer services by adding 1.14%. Meanwhile, ThyssenKrupp AG had the biggest gain in the DAX by adding 6.5%, reaching its highest level since May 2011. Since a gauge of utilities showed the biggest increase on the Stoxx Europe 600 index, EON SE and RWE AG added 2.89% and 2.26%, subsequently. In addition, the luxury car maker Bayerische Motoren Werke edged 1.69% higher, as MM Warburg & Co raised its stock from hold to buy.


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