German stocks rose sharply on Thursday after Federal Reserve officials took a dovish stance overnight, signaling that interest rates will remain unchanged until 2024.
The benchmark DAX rallied 148 points, or about 1 percent, to 14,744 after rising 0.3 percent in the previous session.
Automakers surged, with Volkswagen climbing 5.7 percent on reports that the Czech government is negotiating with the carmaker on construction of one of its electric car batteries plants in Czechia.
BMW rallied 3.7 percent and Daimler added 2.1 percent.
Patrizia AG, a partner for global real assets, rose 3.4 percent. The company said assets under management were 47.0 billion euros in the fiscal year 2020, an increase of 5.7 percent year-over-year.
HeidelbergCement gained 0.8 percent after its net profit rose slightly in the fourth quarter.
Life science group Sartorius soared 10 percent after raising its FY21 outlook.
Market Analysis
DAX Rallies On Dovish Fed
2021-03-18 08:51:48
