BRUSSELS (dpa-AFX) - German stocks are up in positive territory on Thursday, extending gains to a third straight session, thanks to encouraging factory orders data and expectations of a rate cut by the European Central Bank later in the day.
The benchmark DAX, which climbed to 24,400.06, a new record high, was up 100.81 points or 0.43% at 24,363.44 a few minutes ago.
Bayer is rising 5%, lifted by an upward revision in the stock's rating by Goldman Sachs. GS has upgraded Bayer's rating from 'neutral' to 'buy.' Also, the USFDA has approved expanded use for Bayer's prostate cancer drug Nubeqa.
Heidelberg Materials is gaining nearly 3.5%. Daimler Truck Holding, Rheinmetall, Fresenius Medical Care, Brenntag and Siemens Healthineers are advancing 1 to 1.3%.
Beiersdorf, Infineon Technologies, Deutsche Telekom, Deutsche Bank, Fresenius, Deutsche Boerse and Continental are also up in positive territory.
Airbus is down 2%. E.ON, Porsche, MTU Aero Engines, RWE, BMW and Volkswagen are down 0.2 to 0.8%.
Data from S&P Global said the HCOB Germany Construction PMI slipped to 44.4 in May 2025 from 45.1 in April, signaling a slightly faster contraction in the sector.
Data from Destatis showed Germany's factory orders increased for the second straight month in April, though at a slower pace. Factory orders rose 0.6% month-on-month in April, following a revised 3.4% rise in March. Meanwhile, orders are forecast to fall 1%.
Excluding large-scale orders, new orders were 0.3% higher than in the previous month, the agency said.
On a yearly basis, factory orders logged an expansion of 4.8%, faster than the 3.7% growth in the prior month.
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