Stocks

DAX Rebounds After Recent Setback

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(RTTNews.com) - German stocks are up sharply on Friday, bouncing back strongly after benchmark DAX plunged to a fresh 52-week low in the previous session following a sell-off due to rising concerns about global economy and the early setback on Wall Street.

The benchmark DAX is up 162.69 points, or 1.57%, at 10,544.20.

On Thursday, the DAX faltered after a firm start and eventually ended the session with a loss of 2.37%.

Technology, bank, resources, automobile, industrial, food, construction and software shares are among the prominent gainers.

Wirecard, the top gainer in the DAX, is up more than 4%. Infineon and Covestro are rising more than 3%. Deutsche Bank, Thyssenkrupp, Bayer, Linde and Fresenius are gaining 2 to 2.5%.

Adidas, Daimer, Siemens, Heidelberg Cement, Volkswagen, SAP, RWE, Deutsche Telekom, Continental AG, Henkel, BMW and Merck are moving up by 1 to 2%.

On the economic front, a preliminary report on Germany's core price inflation for December is due later in the day.

Among other major markets in Europe, France and the U.K. are up with their key indices gaining about 1.5% each. Switzerland's SMI is up 1.75%.

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