German stocks rose notably on Thursday after data showed the U.K. economy slipped into a technical recession, fueling bets the Bank of England would ease its monetary policy.
Investor sentiment was also boosted after European Central Bank President Christine Lagarde said that economic activity in the Eurozone was “weak” in 2023 and inflation is heading back to target as predicted.
The benchmark DAX was up 127 points, or 0.8 percent, at 17,072 after gaining 0.4 percent in the previous session.
Commerzbank shares rallied 3.4 percent after the lender posted Q4 net profit that beat estimates.
After reporting a 55 percent surge in its fiscal 2023 net profit, the bank said it plans to return a total of around 1 billion euros of capital to shareholders.
DAX Gains After Lagarde Comments; Commerzbank Shares Rally Over 3%
2024-02-15 08:57:25
