German stocks eked out modest gains on Tuesday after a survey showed Germany’s consumer confidence is set to recover more strongly in November to hit a more than two-and-a-half-year high.
The forward-looking consumer sentiment index rose to -18.3 in November from a revised value of -21.0 in October as both income expectations and the willingness to buy showed a back-to-back improvement, according to a survey conducted by the market research group GfK and the Nuremberg Institute for Market Decisions (NIM).
This is the highest value since April 2022, although the level of consumer climate still remains low, the GFK said.
The benchmark DAX was up 53 points, or 0.3 percent, at 19,585 after gaining 0.4 percent the previous day.
In corporate news, sportswear maker Adidas advanced 1.7 percent after posting solid third-quarter results and raising its annual profit target for the third quarter in a row.
Lufthansa fell 2.6 percent as the airline reported a 9 percent year-on-year decline in its third-quarter operating profit.
DAX Gains As Consumer Sentiment Improves
2024-10-29 08:52:28
