European Stocks at 2-Week High, DAX Added 0.88%
European stocks climbed to a two-week high on Thursday, amid strong corporate earnings. Deutsche Bank has jumped 3.46%, and Lufthansa has recovered from a recent downturn, surging 6.76%. The markets are also boosted by rising risk appetite. October was the worst month for global shares since May 2012.
The German DAX stock index is trading at 11.519 level, added 0.88% on the day. Currently, the DAX is at its highest level since October 22. The DAX has started November with gains, after a dismal October, which was marked by weak growth and confidence indicators. The DAX has lost near 6.7% in October, falling to its lowest levels since December 2016.
Eurozone GDP rose by only 0.2% in July-September, down from 0.4% in April-June. Meanwhile, German GDP growth has accelerated in the second quarter of 2018 in spite of global trade tensions. German GDP increased at quarterly rate of 0.5% between April and June. Still, German central bank is forecasting zero growth in the third quarter.