DAX Climbs Led By Banks
(RTTNews) - German stocks advanced on Tuesday after China said it would step up measures to boost demand and stabilize employment and prices in the second half of the year.
The benchmark DAX rallied 170 points, or 1.3 percent, to 13,063 after declining 0.6 percent in the previous session.
Banks topped the gainers list, with Commerzbank and Deutsche Bank rising more than 2 percent on expectations that they would benefit from higher interest rates.
After a number of ECB officials spoke in favor of rate hikes, traders are now pricing in more than a two-thirds chance of a 75-basis-point move at the central bank's September 8 policy meeting.
Energy company Uniper rose over 1 percent after saying it had asked more financial help from the German government.
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Australian Market Trims Early Gains In Mid-market
Asian Markets Track Wall Street Higher
