BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose sharply on Wednesday, with underlying sentiment underpinned by expectations the European Union will announce a massive stimulus program to help the region's economy recover from its coronavirus slump.
The European Commission is expected to announce a multi-billion-euro recovery plan exceeding 1 trillion euros later today.
The benchmark DAX rallied 147 points, or 1.29 percent, to 11,653 after gaining 1 percent in the previous session.
Chipmaker Infineon Technologies dropped 1.8 percent after it raised about 1.06 billion euros ($1.16 billion) by issuing new shares.
Lender Commerzbank surged 5.9 percent after launching a program to issue additional tier 1 (AT1) capital.
Property company LEG Immobilien rose over 1 percent on reports it is in talks with rival TAG Immobilien AG about a potential merger.
Travel operator TUI AG jumped 23 percent after Spain urged foreign visitors to return starting in July.
Copyright RTT News/dpa-AFX
© 2020 AFX News
