BRUSSELS (dpa-AFX) - German stocks gained significant ground in positive territory Thursday morning, extending gains to a fourth straight session, as investors tracked quarterly earnings and looked ahead to the European Central Bank's monetary policy announcement, and the crucial U.S. PCE Inflation data later in the day.
The ECB is widely expected to hold rates unchanged, following the Federal Reserve's decision to leave interest rate unchanged on Wednesday.
The Fed left its interest rate unchanged yesterday despite persistent inflation and dissents from Fed governor Lisa Cook and Cleveland Fed President Beth Hammack.
The benchmark DAX was up 289.72 points or 1.13% at 25,993.74 a few minutes before noon.
Shares of sportswear maker Adidas climbed more than 3% after achieving record results in the third quarter of 2026 and increasing its full-year profit outlook. The company's earnings totaled EUR706 million, or EUR4.08 per share in the third quarter. This compares with EUR461 million, or EUR2.58 per share, last year. The company's revenue for the period rose 9.4% to EUR7.252 billion from EUR6.630 billion last year.
Symrise moved up 3%. Deutsche Telekom gained 2.7%, while Deutsche Bank, Rheinmetall, Merck, Siemens Energy, Volkswagen, Mercedes-Benz, Zalando, Heidelberg Materials and Beiersdorf advanced 1%-2.3%.
Henkel gained about 1.3%. The chemicals company raised its group organic sales growth guidance for full-year 2026 after third-quarter results exceeded analyst expectations.
RWE, Fresenius, Brenntag, BMW, Munich RE, Deutsche Post, Allianz, Hannover RE, Fresenius Medical Care and Siemens also moved higher.
German real estate group Vonovia slumped 5% after lowering its 2028 targets. For fiscal 2026, the company now expects adjusted shareholder earnings to remain in the upper half of the previous outlook range of EUR 1.4 billion to EUR 1.5 billion.
MTU Aero Engines drifted down 2.7% after reporting lower earnings. The company's bottom line came in at EUR227 million, or EUR4.18 per share in the third quarter, compared with EUR250 million, or EUR4.63 per share, last year.
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