German stocks rallied on Tuesday as sentiment was buoyed by another tech rally on Wall Street overnight.
Investors shrugged off data showing that German retail sales declined sharply in December.
Retail sales fell by real 5.5 percent on a monthly basis, reversing a 0.8 percent rise in November, data released by Destatis revealed. Economists had forecast a moderate fall of 1.4 percent.
On a yearly basis, retail sales remained flat after rising 0.5 percent in the prior month. Sales were expected to gain 1.1 percent.
The benchmark DAX jumped 178 points, or 1.2 percent, to 15,649 after rallying 1 percent the previous day.
Siltronic AG shares advanced 1.6 percent. The manufacturer of wafers made of hyperpure silicon said the conditions for the completion of the tender offer by GlobalWafers GmbH have not been fulfilled. The tender offer will not be closed, but has expired.
Market Analysis
DAX Climbs After Wall Street Rally
2022-02-01 09:01:30
