The German stock market benchmark DAX has gained around a percent in Friday’s trade amidst data that showed a more than expected growth in the economy. Euro Area GDP also expanded, albeit at a slower pace than expected.
Germany’s GDP expanded 0.2 percent in the first quarter of 2022, versus market expectations of a 0.1 percent growth and registering a smart recovery form the 0.3 percent contraction in the fourth quarter of 2021. Annual GDP growth of 3.7 percent also surpassed market expectations of a 3.6 percent growth.
Euro Area expanded by 0.2 percent in the first quarter versus expectations of 0.3 percent. Yearly GDP growth rose to 5 percent from 4.7 percent in the previous quarter.
The forty-scrip DAX index is currently trading at 14,111.75 gaining 0.94 percent. The day’s trading has been within the range of 14,071.23 and 14,175.39.
Online food delivery service Delivery Hero gained 8 percent and tops the price chart.
Meal-kit maker Hello Fresh has gained close to 6 percent.
Footwear and accessories brand PUMA gained close to 4 percent.
Aerospace and defense business MTU Aero Engines and auto parts maker Continental have both rallied close to 3 percent.
Laundry and homecare brand Henkel has dropped almost 7 percent. Reinsurance business Munchener Ruck has fallen more than 5 percent. Real estate business Vonovia has shed more than 1 percent.
Deutsche Bank is the most active scrip with a volume of 3.26 million. The stock has surged 2 percent on Friday.
The EURUSD pair is at 1.0569 after gaining 0.71 percent overnight amidst the US Dollar Index falling 0.63 percent to 102.97.
The ten-year bond yield has increased 0.56 percent to 0.9040 versus 0.8990 percent on Thursday.
Business News
GDP Data Drives DAX Higher
2022-04-29 09:47:12
