German stocks advanced on Tuesday as investors cheered upbeat earnings updates from Volkswagen and Zalando.
Market participants also looked ahead to a Federal Reserve policy meeting to see what the updated language and economic forecasts look like.
The benchmark DAX rose 75 points, or half a percent, to 14,536 after declining 0.3 percent in the previous session.
Zalando shares surged 4.6 percent. The online fashion retailer has upgraded its growth objectives after solid 2020 results.
Automaker Volkswagen AG jumped 4 percent. The company expressed confidence that cost cuts will help it improve profit margins in the coming years.
Utility RWE declined half a percent. The company reported that its fiscal 2021 adjusted net income was 1.2 billion euros, above the outlook of 0.85 billion euros to 1.15 billion euros.
Wacker Chemie slumped 6 percent. The chemicals company forecast mid-single-digit percentage sales growth in 2021.
DAX Rises On Earnings
2021-03-16 09:12:25
