DAX Rebounds After Selloff

(RTTNews) - German stocks rebounded on Tuesday despite reports that U.K. and Spain will impose new measures to curb coronavirus surge.

Healthcare and technology companies gained ground, outweighing losses in the travel-related stocks.

The benchmark DAX rose 102 points, or 0.8 percent, to 12,644 after plunging as much as 4.4 percent the previous day.

Shares of GEA Group AG rallied 2 percent after the technology company announced that it is selling the compressor manufacturer Bock, which is in GEA's Refrigeration Technologies division, to NORD Holding. The parties have agreed not to disclose the financial details of the deal.

Travel-related stocks continued to dip, with airline Lufthansa down nearly 3 percent.

Banks traded narrowly mixed, with Commerzbank rising 0.3 percent while Deutsche Bank slipped half a percent.

Tour operator TUI AG rose 1.3 percent. In pre-close trading update for the twelve months ending September 30, the company noted that since restarting operations from mid-June, it has taken 1.4 million customers on their holidays, achieving an average load factor of 84 percent based on adjusted capacity.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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