BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks were moving higher on Thursday after a survey showed that German consumer sentiment is set to recover next month reflecting the rapid reopening of the economy and society.
Research group GfK's forward-looking consumer sentiment index rose to -9.6 in July from revised -18.6 in June. The score was forecast to rise moderately to -12.
Both economic and income expectations, as well as propensity to buy, increased in June. The economic expectations index rose 18.9 points to 8.5 points in June, while the income expectations indicator advanced 12.3 points to 6.6 points.
The benchmark DAX was up 109 points, or 0.9 percent, at 12,202 after losing as much as 3.4 percent the previous day.
Bayer AG gained nearly 2 percent after it agreed to pay up to $10.9 billion to settle thousands of U.S. lawsuits claiming that its widely used weedkiller Roundup caused cancer.
Lufthansa jumped as much as 15 percent after billionaire Heinz Hermann Thiele, who owns a 15.5 percent stake in the airline, agreed to endorse a 9-billion-euro state bailout.
Payments processor Wirecard, which has been mired in an accounting scandal over the past week, plunged 13 percent.
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