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DAX Rallies Led By Banks
(RTTNews) - German stocks rallied on Tuesday as fears over a banking crisis eased, and investors awaited the Federal Reserve's interest-rate decision.
The benchmark DAX was up 185 points, or 1.2 percent, at 15,118 after rallying 1.1 percent in the previous session.
Banks topped the gainers list, with Commerzbank rallying 5.4 percent and Deutsche Bank adding 4 percent.
Utility RWE rose 2.3 percent after reporting higher adjusted earnings in FY22.
Automakers BMW and Volkswagen both rose about 2 percent after industry data showed European new passenger car registrations continued to strengthen in February albeit due to the low base of comparison given the semiconductor shortage crisis at the beginning of 2022.
Passenger car sales increased 11.5 percent on a yearly basis to 802,763 units in February. This followed an 11.3 percent rise in January.
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