German stocks rose on Thursday after the Federal Reserve announced plans to begin tapering its bond purchases, as widely expected, but reaffirmed patience on interest rate hikes.
In economic releases, German factory orders recovered in September but at a slower-than-expected pace, figures from Destatis revealed.
New orders grew 1.3 percent month-on-month in September, reversing an 8.8 percent decrease in August. However, this was slower than the 2 percent expansion expected by economists.
On a yearly basis, new order growth eased to 9.7 percent from 10.4 percent in August.
The benchmark DAX inched up 47 points, or 0.3 percent, to 16,007 after ending marginally higher the previous day.
Real estate investment trust Alstria Office jumped 17.5 percent after it announced a takeover bid from Canada-based Brookfield Asset Management.
Technology company Aixtron tumbled 3.3 percent after reaffirming its revenue guidance.
Reinsurer Hannover Re rallied 2.3 percent after backing its FY21 view.
Logistics company Deutsche Post jumped 2.6 percent after lifting its EBIT outlook.
Commerzbank soared 4.3 percent. The lender expects a profit this year, defying analysts’ predictions for a 2021 loss.
DAX Edges Higher After Expected Fed Decision
2021-11-04 09:08:50
