DAX Rises In Cautious Trade
(RTTNews) – German stocks rose on Thursday as optimism about growth prospects and hopes of earnings recovery outweighed concerns over post vaccination infections.
The benchmark DAX inched up 51 points, or 0.3 percent, to 15,261 after declining 0.2 percent on Wednesday.
Real estate companies were in focus after the Constitutional Court ruled that Berlin’s rent cap was unconstitutional.
Deutsche Wohnen jumped 4 percent, LEG Immobilien gained 1.1 percent and TAG Immobilien added 1.3 percent.
Medical and safety technology provider Draegerwerk AG & Co. KGaA soared more than 8 percent. The company reported that preliminary net sales for the first quarter of 2021 were significantly higher than the same period of the previous year.
TeamViewer AG, a remote connectivity and workplace digitalization solution provider, rose 1.7 percent after it appointed Lisa Agona as global Chief Marketing Officer.
In economic releases, German consumer prices grew 1.7 percent year-on-year in March, in line with the preliminary estimate, following a 1.3 percent rise in February, final data from the statistical office Destatis showed. A similar higher rate was last reported in February 2020.