DAX Holds Steady On China Growth Optimism
(RTTNews) - German stocks were steady on Tuesday after China's premier said economic growth is accelerating and policymakers will take steps to boost demand.
China's GDP growth in the second quarter is likely to be higher than the first and could reach the annual economic growth target of around 5 percent, Chinese Premier Li Qiang said while addressing a World Economic Forum summit in Tianjin.
The benchmark DAX was marginally higher at 15,819 after finishing 0.1 percent lower on Monday.
Banks Commerzbank and Deutsche Bank were up 1.4 percent and 0.8 percent, respectively.
Automobile Major Porsche Automobil Holding SE fell over 1 percent.
The company has signed a 5-year revolving credit facility of 2.5 billion euros with a view to further strengthening Porsche's liquidity position.
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