BRUSSELS (dpa-AFX) - German stocks moved higher on Thursday with investors focusing on the two-day summit in Beijing where U.S. President Donald Trump and Chinese President Xi Jinping are set to discuss various issues, including trade, security and try to strengthen economic cooperation.
Trump, who has already held his first bilateral meeting with Xi, reportedly told the Chinese Prime Minister today that the relationship between the two countries will be 'better than ever before.'
The benchmark DAX was up 328.91 points or 1.36% at 24,430.64 a little while ago.
Infineon Technologies gained nearly 3.5%. Siemens moved up 3% after the company said that it has agreed to buy the core business of Italian rail technology ?group MERMEC to strengthen its rail portfolio and gain market access ?to Italy.
Volkswagen gained 2.75%. Daimler Truck Holding and Porsche Automobil Holding advanced 2.3% and 2.1%, respectively.
Gea Group, Siemens Energy, Brenntag, Mercedes-Benz, Rheinmetall, Siemens Healthineers, Deutsche Bank, SAP, Allianz, Commerzbank and Zalando gained 1%-2%.
BMW dropped about 3%. Heidelberg Materials slipped nearly 2%, while Scout24 and Deutsche Boerse drifted down 1.6% and 1.4%, respectively.
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