BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German shares rose on Tuesday as trade talks between the U.S. and China continued for a second day and dovish comments from Federal Reserve Chairman Jerome Powell last week bolstered the case for a slower pace of rate hikes.
The benchmark DAX was up 70 points or 0.65 percent at 10,818 in opening deals after losing 0.2 percent in the previous session.
Banks were moving higher after the Italian government approved a decree aimed at shoring up troubled lender Banca Carige. Commerzbank climbed 1.4 percent and Deutsche Bank Deutsche Bank jumped 2.4 percent.
On the economic front, German industrial production decreased for a third straight month in November, defying expectations for an increase, amid a sharp fall in consumer goods and energy output, preliminary data from the Federal Statistical Office showed.
Industrial production fell a calendar and seasonally adjusted 1.9 percent from October, when it decreased 0.8 percent, revised from 0.5 percent. Economists had expected a 0.3 percent increase.
Copyright RTT News/dpa-AFX
© 2019 AFX News
