DAX Up Nearly 0.5%, Hits 5-week High
(RTTNews) - German stocks are up in positive territory on Friday, rising for the third consecutive session, and the benchmark DAX has hit a more than 5-week high, as some strong earnings updates and hopes about a positive outcome from U.S. President Donald Trump and Russian President Vladimir Putin's meeting help underpin sentiment.
It is hoped that the Trump-Putin summit, which takes place in Alaska later in the day, might help end the war in Ukraine. Investors are also closely following the developments on the trade front.
The benchmark DAX was up 108.47 points or 0.45% at 24,475.29 a little while ago.
Healthcare and auto stocks are among the prominent gainers.
Brenntag, Mercedes-Benz, BMW, RWE, Beiersdorf, BASF, Bayer and Merck are gaining 1.5 to 2%.
Siemens, Volkswagen, Deutsche Post, Porsche, Fresenius Medical Care, Siemens Healthineers, Porsche Automobil Holding and Daimler Truck Holding are up 1 to 1.4%.
Infineon Technologies is up nearly 1% after completing the acquisition of Marvell Technology Inc.'s Automotive Ethernet business.
Rheinmetall is down 3.7%. Siemens Energy and MTU Aero Engines are down 1.5% and 1%, respectively. E.ON, Commerzbank, Zalando and Zalando are lower by 0.25 to 0.8%.
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