German stocks rose notably on Friday after data showed China’s GDP growth jumped to a record high in year-on-year terms last quarter, even as it missed expectations slightly.
China’s stellar economic prints, coupled with encouraging U.S. retail sales and jobless claims data released overnight, suggested that the global economic recovery is gaining momentum.
The German DAX climbed 104 points, or 0.7 percent, to 15,358 after edging up 0.3 percent on Thursday.
HeidelbergCement rallied 2 percent. The cement maker said that its preliminary results for the first quarter of 2021 were significantly above market expectations.
Pfeiffer Vacuum Technology AG shares jumped more than 12 percent. The company reported that its preliminary operating result for the first quarter 2021 increased 76.4 percent.
Meal-kit maker HelloFresh advanced 3.7 percent after lifting its 2021 revenue guidance.
Automaker Daimler rallied 2.6 percent after its preliminary results for the first-quarter of 2021 came in significantly above market expectations, driven by higher vehicle prices and strong demand for its Mercedes-Benz cars, particularly in China.
BMW rose 0.7 percent and Volkswagen gained 1.7 percent after industry data showed Europe’s new car registrations surged in March due to last year’s exceptionally low base of comparison caused by the strict COVID-19 restrictions introduced in most markets in March 2020.
Registrations of new passenger cars increased 87.3 percent annually, in contrast to February’s 19.3 percent decline.
DAX Rises On Growth Optimism, Earnings
2021-04-16 09:11:53
