German stocks advanced on Tuesday aided by growth optimism. Germany’s jobless rate dropped marginally in July, data from Destatis revealed earlier today.
The jobless rate fell to a seasonally adjusted 3.6 percent in July from 3.7 percent in June. The number of unemployed came in at 1.56 million, which was a decline of 19,000 or 1.2 percent on June, the labor force survey revealed.
On an unadjusted basis, the unemployment rate held steady at 3.7 percent in July.
Meanwhile, the Insa poll for Bild TV showed support for the SPD and their chancellor candidate Olaf Scholz jump by 2 percentage points to 25 percent, just weeks ahead of a general election.
The benchmark DAX rose 71 points, or half a percent, to 15,958 after closing 0.2 percent higher the previous day.
Delivery Hero SE shares rallied 2.5 percent as the online food-delivery service reported a new peak of orders from its Korean subsidiary Woowa.
Woowa, which operates South Korea’s largest online food delivery platform under its brand “Baedal Minjok”, delivered 100 million orders in August 2021.
Market Analysis
DAX Rises On Growth Optimism
2021-08-31 08:59:31
