DAX Rises Despite Brexit Decision Delay

(RTTNews) - German stocks advanced on Monday as investors watched the latest Brexit developments as well as earnings news.

Investors remained hopeful that Britain would be able to avoid a disorderly exit from the European Union despite a cross-party group of politicians voting to postpone the "meaningful vote" on Prime Minister Boris Johnson's new divorce deal.

The benchmark DAX was up 65 points, or 0.52 percent, at 12,698 after declining 0.2 percent on Friday.

Sartorius shares jumped 5.7 percent after Danaher Corp., a science and technology company, signed an agreement to sell certain of its businesses in the Life Sciences segment to the German pharmaceutical and laboratory equipment supplier for approximately $750 million.

Wirecard soared 7.2 percent. The payments company has decided to commission the audit firm KPMG to conduct an additional independent audit to clarify fully and independently all accusations raised by the newspaper, Financial Times.

Deutsche Wohnen lost 2.5 percent and Vonovia dropped 1.5 percent as the Berlin government moved to freeze rents.

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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