German stocks advanced on Friday as hopes for more stimulus measures in the United States outweighed fears of an uptick in inflation, ahead of key U.S. data due out later in the day.
The benchmark DAX climbed 80 points, or half a percent, to 15,487 after declining 0.3 percent in the previous session.
Banks Commerzbank and Deutsche Bank both rose about half a percent while automakers were broadly lower.
Industrial conglomerate Siemens rallied 3.5 percent on hopes for economic recovery.
TUI AG was little changed. The travel agency firm said that it has reached an agreement to dispose its 49 percent stake in RIU Hotels S.A. Joint Venture to Saranja S.L., an entity of the RIU-Group owned by Carmen and Luis Riu.
In economic releases, German import prices grew 10.3 percent year-on-year in April, following a 6.9 percent rise in March, data released by Destatis showed.
This was the fastest growth since December 2010 and exceeded the economists’ forecast of 10 percent.
DAX Rises With US Stimulus In Focus
2021-05-28 08:57:37
