German stocks were modestly higher on Friday as strong earnings and broader optimism about economic recovery helped investors look past a surge in new coronavirus infections.
German Chancellor Angela Merkel on Thursday announced limits on public life for the unvaccinated, saying the move is necessary to tackle a “very worrying” fourth wave of the pandemic.
Meanwhile, Germany’s producer prices rose at the fastest pace since 1951, data released by Destatis showed.
Producer prices increased 18.4 percent year-on-year in October, following a 14.2 percent rise in September. Prices were expected to gain 16.2 percent.
This was the highest growth since November 1951, when prices surged 20.6 percent.
On a monthly basis, producer prices gained 3.8 percent, following a 2.3 percent increase in the previous month. Economists had forecast a rise of 1.9 percent.
The benchmark DAX rose 45 points, or 0.3 percent, to 16,267 after ending 0.2 percent lower on Thursday.
Market Analysis
DAX Modestly Higher On Economic Optimism
2021-11-19 09:00:18
