German stocks advanced on Monday ahead of a slew of key U.S. and Chinese data due this week and the European Central Bank’s next rate decision Thursday, with the central bank expected to hike all three policy rates by 25 basis points.
The benchmark DAX rose 62 points, or 0.4 percent, to 15,803 after closing up 0.1 percent on Friday.
Hannover rose over 1 percent. The reinsurance firm said that it expects a further price increase in the global reinsurance market, citing ongoing geopolitical issues, increasing frequency and severity of natural catastrophe losses as well as high inflation.
Covestro AG jumped more than 3 percent. The maker of high-tech polymer materials has decided to enter into open-ended talks with Abu Dhabi National Oil Co. or Adnoc regarding a potential offer.
Market Analysis
DAX Edges Higher Ahead Of Busy Week For Economic Data
2023-09-11 08:52:54
