German DAX Stock Index Has Increased Significantly

Germany's DAX stock index has appreciated significantly after the release of Germany's economic data. The index increased by 0.83% and is trading at the level of 12.837.25. Europe's stock markets rose after news that Italy had reached an agreement to end the activities of two weak regional banks: Banca Popolare di Vicenza and Veneto Banca.

Data of the Institute of Economic Research Ifo showed that the German Business Climate rose to 115.1 in June. It was expected, that the figure would be 114.4. The indicator improved for five consecutive months, indicating a stronger optimism among German enterprises.