DAX Advances Nearly 0.7%

(RTTNews) - German stocks are up firmly in positive territory on Thursday with investors closely following the developments on the geopolitical front, and reacting positively to the German government's public investment plans.

The benchmark DAX, which climbed to 23,702.00 earlier in the session, was up 155.55 points or 0.66% at 23,663.50 a little while ago.

Sartorius and Rheinmetall are gaining 3.4% and 3.3%, respectively.

Qiagen and Siemens Energy are up 2.6% and 2.5%, respectively. Deutsche Boerse, Brenntag, E.ON, Merck, Infineon Technologies, Deutsche Bank, Deutsche Post, Henkel and Commerzbank are up 1 to 2.2%.

Mercedes Benz, Volkswagen, Munich RE, Porsche Automobil Holding and Adidas are down 0.25 to 0.8%.

On the economic front, German consumer confidence is set to drop in July after rising for three straight months as rising willingness to save offset the positive impetus provided by improved income prospects.

The forward-looking consumer sentiment index fell unexpectedly to -20.3 in July from -20.0 in the previous month, a survey jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions showed. The score was seen at -19.1.

The savings indicator rose 3.9 points to 13.9 in June, which was the highest level in more than a year.

The survey showed that income expectations remained clearly on track for recovery. The income indicator rose for the fourth straight month in June. The corresponding index gained 2.4 points to 12.8.

The recent favorable wage agreements combined with a moderate inflation underpinned income expectations. The GfK said the improvement in wages helped to boost purchasing power.

The economy is expected to recover in the course of 2025. The economic expectations index surged to 20.1 in June from 13.1 in May. The latest score was the highest since the outbreak of the war in Ukraine in early 2022.