German stocks advanced on Tuesday as strong earnings updates helped offset Covid-worries and concerns over U.S. interest-rate hikes this year.
The benchmark DAX jumped 127 points, or 0.8 percent, to 15,895 after losing 1.1 percent on Monday.
Delivery Hero SE shares soared 5.3 percent. The online food ordering company said it expects its food delivery business to break even during the second half of 2022.
HelloFresh rallied 2.2 percent after the meal-kit delivery firm announced a share buyback program of up to 250 million euros.
Tech stocks rose, with Infineon Technologies climbing 2.5 percent.
Banks underperformed, with Deutsche Bank falling nearly 2 percent after U.S. financial investor Cerberus cut stake in both Deutsche Bank and Commerzbank. Shares of the latter were down 2.7 percent.
Evotec AG, a drug discovery and development company, jumped 3.7 percent after saying it has expanded its neurodegeneration collaboration with Bristol Myers Squibb (BMY) to include a new targeted protein degradation approach.
Market Analysis
DAX Climbs On Earnings
2022-01-11 09:08:36
