DAX Climbs As Infineon Raises Outlook
(RTTNews) - German stocks rose notably on Wednesday after top U.S. regulators tried to assure Congress that the overall financial system is still sound and the collapse of Silicon Valley Bank was a "textbook case of mismanagement".
The benchmark DAX jumped 104 points, or 0.7 percent, to 15,246 after finishing marginally higher in the previous session.
Infineon Technologies shares soared 7.3 percent. The chipmaker raised its outlook for both its financial second quarter and the whole of 2023.
Automaker Mercedes Benz fell nearly 2 percent on news that Kuwait's sovereign wealth fund is planning to reduce its stake in the luxury carmaker.
Nordex gained about 1 percent after it won contracts to supply and install 14 turbines from the Delta4000 series for three unnamed projects in Greece.
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