German stocks fluctuate between gains and losses on Wednesday

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Source: Dukascopy Bank SA
German shares fluctuated between gains and losses and advanced by 15:54 GMT even though the nation's government forecast the Europe's largest economy to contract in 2013 and Jean-Claude Juncker, the Prime Minister of Luxembourg, said the strength of common currency might injure the Eurozone's economy. The German DAX index slightly increased by 0.18% to 7,688.77, rebounding from earlier losses. Six out of nine groups edged higher with health care, consumer goods and basic materials shares gaining the most by 1.68%, 0.71% and 0.69%, respectively. Fresenius SE & Co KGaA was the best performing company as its shares rallied 3.1% and led gains in the health care shares. Furthermore, Lanxess AG also advanced, pacing an increase in the basic materials shares, while Adidas stock soared 2.5%, supporting a surge in the consumer services sector that was 0.59% up. Among worst performers were Allianz SE and Muenchener Rueckversicherungs, adding to losses in financial shares that tumbled 1.34%.
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