German Stocks Rise a Fourth Day Before ECB Rates Decision
Metro rallied 6.2 percent as Germany’s biggest retailer reported second-quarter profit that beat analysts’ estimates. Bayerische Motoren Werke AG dropped 2.4 percent after the world’s biggest maker of luxury vehicles reported that profit decreased 8.8 percent in the second quarter.
The DAX Index (DAX) added 0.7 percent to 8,334.46 at 9:38 am in Frankfurt. The equity benchmark climbed 4 percent last month and has risen 8.4 percent from a low on June 24. The broader HDAX Index increased 0.8 percent today.
The ECB will leave its benchmark interest rate at a record low of 0.5 percent today, according to economists surveyed by Bloomberg. The central bank announces its decision at 1:45 p.m. in Frankfurt and President Mario Draghi holds a press conference 45 minutes later.
The volume of shares changing hands in DAX-listed companies was 34 percent greater than the average of the last 30 days, according to data compiled by Bloomberg.
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