German stocks advanced on Wednesday as travel stocks rebounded after recent string of losses.
The focus shifted to the European Central Bank policy meeting on Thursday, with the central bank expected to announce the outcome of an 18-month strategic review.
President Christine Lagarde hinted at a change to the bank’s forward guidance last week, reflecting the slightly higher tolerance for inflation in the new strategy.
The benchmark DAX jumped 120 points, or 0.8 percent, to 15,336 after closing 0.6 percent higher on Tuesday.
Banks paced the gainers, with both Commerzbank and Deutsche Bank rising around 2 percent.
Travel-related stocks were also on the rise, with airline Lufthansa climbing 2.6 percent.
Business software group SAP fell nearly 2 percent despite raising its revenue forecast.
Mercedes-Benz maker Daimler AG lost 1 percent after a warning that a global shortage of semiconductor chips will continue in the second half of 2021.
DAX Rises With ECB Meeting In Focus
2021-07-21 08:56:24
