German stocks rose on Tuesday, with banks outperforming on optimism that they will benefit from higher interest rates.
The benchmark DAX climbed 118 points, or 0.82 percent, to 14,445 after falling 0.6 percent in the previous session.
Lender Commerzbank rallied 2.5 percent and rival Deutsche Bank added 2.7 percent after Federal Reserve Chairman Jerome Powell signaled openness to raising interest rates more aggressively to tame inflation.
German 10-yeaar benchmark yields revisited the 0.50 percent area today for the first time since October 2018.
Automakers BMW and Volkswagen gained 1-2 percent.
Fresenius Medical Care AG was moving lower. The healthcare company has entered into a binding agreement to create an independent new kidney-care business by combining strengths of three leading value-based care specialists.
DAX Rises Led By Banks
2022-03-22 09:03:19
