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DAX Gains On Optimism About US Economy
(RTTNews) - German stocks traded sharply higher on Wednesday as upbeat U.S. economic reports on key manufactured capital goods, new home sales and consumer confidence soothed concerns about an economic downturn.
Meanwhile, investors shrugged off the results of a key survey showing that German consumer confidence has fallen for the first time since October.
Pollster GfK said its forward-looking survey of around 2,000 people fell to minus 25.4 points in July from 24.4 points in June.
Market participants now await a panel discussion of central bankers in Sintra, including European Central Bank President Christine Lagarde, Federal Reserve Chair Jerome Powell, Bank of Japan Governor Kazuo Ueda and Bank of England's Andrew Bailey later in the day for further policy direction.
The benchmark DAX was up 131 points, or 0.8 percent, at 15,978 after rising 0.2 percent in the previous session.
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