German stocks rose notably on Wednesday as investors focused on updates surrounding the situation in Ukraine amid receding fears of a full-fledged war.
The summit between U.S. President Joe Biden and his Russian counterpart Vladimir Putin has been cancelled as tensions intensified following the recognition of two Ukrainian separatist regions as sovereign states.
The benchmark DAX climbed 120 points, or 0.8 percent, to 14,813 after closing 0.3 percent lower in the previous session.
Construction major Hochtief AG fell 1.7 percent after it has approved the submission of the unconditional and final off-market takeover offer to Australian company CIMIC Group Limited by HOCHTIEF Australia Holdings Limited.
FlatexDEGIRO shares soared 17 percent after reports that that online broker is attracting interest from private equity firms.
Munich Re lost nearly 2 percent despite the reinsurance giant reporting a strong set of results for 2021.
Sportswear firm Puma also fell around 2 percent after posting a jump in full-year sales and earnings.
Henkel surged 4.5 percent after reporting organic growth across its business units.
DAX Climbs As War Fears Recede
2022-02-23 09:22:21
