DAX Rises On Solid Economic Data

By RTTNews Staff Writer   ✉   | Published:

German stocks rose notably on Friday as investors cheered upbeat economic data showing both industrial output and exports rose more than expected in November.

The benchmark DAX climbed 124 points, or 0.9 percent, to 14,092 after gaining 0.6 percent the previous day.

German industrial output grew 0.9 percent month-on-month in November, slower than the revised 3.4 percent increase seen in October, data released by Destatis showed. This was better than the economists' forecast of 0.7 percent.

Another report revealed that German exports logged a monthly growth of 2.2 percent versus a 0.9 percent rise in October. Similarly, growth in imports improved to 4.7 percent from 0.4 percent a month ago.

Chipmakers were in focus, with Infineon Technologies surging as much as 6 percent after global peers Micron Technology Inc and Samsung Electronics reported strong quarterly earnings.

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