BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks advanced on Thursday amid optimism that the coronavirus crisis is peaking in several countries.
Also, investors waited to see whether European Union (EU) finance ministers will approve a set of fiscal measures to combat the economic fallout of the coronavirus pandemic later today.
The benchmark DAX rose by 89 points, or 0.82 percent, to 10,415 after declining 0.2 percent in the previous session.
Battered automakers were moving higher, with Daimler and Volkswagen rising around 2 percent.
SAP advanced 1.8 percent. The enterprise software giant reported that its preliminary operating profit for the first quarter increased more than 100 percent year over year to 1.21 billion euros, mainly due to a significantly lower impact from both restructuring expenses and share-based compensation expenses.
Gerresheimer, a manufacturer of primary packaging products for medication and drug delivery devices, rallied 3.5 percent after confirming its 2020 growth forecast.
Deutsche Lufthansa gained 0.8 percent. The airline announced its Executive Board will be reduced from seven to six members, effective April 15.
In economic releases, German exports growth accelerated, while imports fell more than expected in February, data from Destatis revealed.
Exports grew 1.3 percent on month, much faster than the 0.1 percent rise in January. Economists had expected a 1 percent decline.
Imports declined by more-than-expected 1.6 percent, following a 0.6 percent rise in January. Imports were forecast to fall 0.7 percent.
The trade surplus rose to a seasonally adjusted EUR 21.6 billion from EUR 18.7 billion in January.
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