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DAX Rallies Ahead Of Unscheduled ECB Meeting
(RTTNews) - German stocks climbed on Wednesday, with banks leading the surge, on news that the European Central Bank's policy-setting Governing Council will hold a rare, unscheduled meeting later today to discuss the recent volatility in government bond markets.
ECB executive board member Isabel Schnabel indicated on Tuesday that the central bank will fight any "disorderly" blowout in the borrowing costs of more indebted euro zone nations.
Investors also awaited the Federal Reserve's interest-rate decision later in the day for clues on how aggressive the U.S. central bank intends to be in the coming months.
The benchmark DAX jumped 185 points, or 1.4 percent, to 13,489 after losing 0.9 percent the previous day.
Commerzbank surged 4.5 percent and rival Deutsche Bank advanced 2.5 percent.
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