German stocks surge on upbeat data

Tuesday, 19. November 2019 11:47

The release of a number of positive economic figures sparked a rally on the Frankfurt Boerse on Tuesday with the blue-chip stock market index rising over 1%.

The DAX gained 1.19% at 11:42 am CET as construction and automobile sectors led the charge. The construction output data for the euro area showed an increase of 0.7% in September, driving building materials companies such as HeidelbergCement up over 2%.

The automobile sector also posted gains with Continental, Volkswagen and BMW jumping 2.07%, 1.83% and 1.23%, respectively, at 11:43 am CET, on the back of the report from the European Automobile Manufacturers Association which said earlier that car sales in the EU increased by 8.7%, the fastest rate growth in the last decade, led by 12.7% growth in Germany.

Related Links: Continental AGHeidelbergCement AGVolkswagen AG
Breaking the News / GG