German shares higher as central banks will continue monetary easing

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Source: Dukascopy Bank SA
German shares edged higher on speculation that central banks in Europe and the U.S. will extend monetary stimulus. In addition China pledged to raise its budget deficit to spur demand. The DAX Index climbed 1.9% to 7,838.12 by 15:50 in Frankfurt. Deutsche Post AG was the top leader, by gaining the most in seven months after its fourth-quarter profit topped the estimates. Furthermore, Daimler AG, the German luxury car manufacturer and second biggest car maker in the world, increased 3.3% and paced gains in consumer goods group that soared 2.7%, the most in the gauge. Bayerische Motoren Werke AG also contributed to an increase in consumer goods by adding as much as 2.8%. Meanwhile, Lanxess posted biggest losses among all blue chip companies and capped further surge in basic material shares that were 2.2% higher. Fresenius SE erased 0.3%, pacing losses in health care sector.
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Tue, 05 Mar 2013 17:17:04 GMT

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