BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks advanced on Thursday as software maker SAP confirmed its full-year revenue outlook despite the negative effects of a global lockdown and data showed the country's exports rebounded in May.
The benchmark DAX jumped 149 points, or 1.2 percent, to 12,644 after losing 1 percent the previous day.
Europe's largest technology company SAP surged 7.8 percent after posting better-than-expected quarterly results. Infineon Technologies advanced 2.2 percent and Dialog Semiconductor added 1.5 percent.
Siemens AG gained over 1 percent. The industrial conglomerate announced that its shareholders will vote on its proposal to spin off 55 percent of Siemens Energy to them.
Separately, the company announced that Michael Peter will be Siemens Mobility's sole CEO, effective July 10.
Commerzbank dropped 1.4 percent. The bank said that its supervisory board accepted the resignation of its chief executive officer at a meeting.
In economic news, German exports grew for the first time since the coronavirus pandemic hit the economy in March, data from Destatis showed.
Exports grew 9 percent month-on-month in May, reversing a 24 percent decline in April. Nonetheless, shipments were expected to grow at a much faster pace of 13.8 percent.
At the same time, imports climbed 3.5 percent after falling 16.6 percent a month ago. Economists had expected a 12 percent rise.
As a result, the trade surplus rose to a seasonally adjusted EUR 7.6 billion from EUR 3.4 billion in April. This was above economists' forecast of EUR 5.2 billion.
On a yearly basis, exports plunged 29.7 percent and imports decreased 21.7 percent in May.
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