German stocks rose notably on Wednesday amid hopes of a “vaccine-powered” pick-up in economic activity later this year.
The rollout of vaccines in many countries is gathering pace, with Russia announcing it would be able to vaccinate 700 million people with the Sputnik V coronavirus jab this year.
Renewed hopes for U.S. stimulus also boosted sentiment after the Senate took steps to allow Democrats to pass President Joe Biden’s package without Republican support.
The benchmark DAX jumped 102 points, or 0.7 percent, to 13,937 after rallying 1.6 percent the previous day.
Siemens advanced 1.8 percent after the German engineering company beat first-quarter expectations and raised its guidance for the year.
Telecommunications company Freenet soared 7 percent on share buyback news.
Chemicals company Wacker Chemie gained 1 percent after announcing an acquisition.
DAX Rises On Vaccine Optimism
2021-02-03 08:58:14
