German stocks bounced back on Wednesday after a sharp sell-off in the previous session. Underlying sentiment was helped after data showed growth of the euro zone private sector economy improved during April.
The benchmark DAX climbed 212 points, or 1.4 percent, to 15,069 after plunging as much as 2.5 percent in the previous session.
Tech stocks rebounded, with Infineon Technologies climbing 2.2 percent.
Logistics company Deutsche Post jumped nearly 3 percent after lifting its operating profit forecast for 2021.
Daimler dropped 1.7 percent after Nissan Motor decided to sell all 1.54 percent of shares in the German carmaker owned by Renault Motors in France.
Fashion house Hugo Boss surged 4.2 percent. The company expects to double sales and remains optimistic of generating a positive EBIT in the second quarter.
Reinsurance firm Hannover Re was down about 1 percent despite confirming its FY21 outlook.
Delivery Hero tumbled 3.8 percent after former owners of Woowa Brothers sold shares worth about 1.25 billion euros ($1.5 billion) in the online food ordering company.
DAX Rebounds On Growth Optimism
2021-05-05 09:07:38
