German stocks advanced on Thursday despite a weak handover from Asia, where the debt crisis at China Evergrande Group and Beijing’s latest push to rein in private industries hurt sentiment.
Investors await U.S. retail sales and jobless claims data later in the session for more clues on when the Federal Reserve will tighten its monetary policy.
The benchmark DAX climbed 93 points, or 0.6 percent, to 15,708 after declining 0.7 percent in the previous session.
Chemicals giant BASF gained 0.7 percent after it announced a strategic partnership with Chinese energy technology company Contemporary Amperex Technology Co.
Wacker Chemie AG rose over 1 percent. The chemicals company once again raised its full-year guidance for sales and EBITDA, citing the sustained positive performance of its business.
Food and beverages company GEA Group AG advanced 1.4 percent as it bagged an order from Denmark-based biotechnology customer Novozymes for a new functional protein plant in Nebraska, USA.
Sugar producer Suedzucker AG rose half a percent after reporting solid preliminary operating result for the second-quarter.
Automakers BMW, Daimler and Volkswagen were seeing modest gains even as industry data showed Europe’s passenger car registrations declined in August and July after four months of accelerated growth.
Market Analysis
DAX Rises Ahead Of Key US Data
2021-09-16 09:03:11
