German Stocks Gain as Investors Await Confidence Report
German stocks advanced for a fourth day as investors awaited a report that may show increases in domestic investor confidence and U.S. retail sales.
EON SE rose 3.8 percent after posting first-half profit that exceeded analysts’ projections. Deutsche Wohnen AG (DWNI) climbed 4 percent after reporting a jump in first-half profit. K+S AG (SDF), Europe’s biggest potash distributor, slipped 2.9 percent after sales and earnings missed estimates.
The DAX (DAX) added 0.7 percent to 8,413.28 at 9:15 a.m. in Frankfurt. The gauge has rallied 9.4 percent from its low on June 24 as the European Central Bank said that interest rates will remain low for an extended period. The broader HDAX Index rose 0.6 percent today.
A report at 11 a.m. may show investor confidence in Germany, Europe’s largest economy, increased in August. The ZEW Center for European Economic Research’s index of investor and analyst expectations, which aims to predict economic developments six months in advance, rose to 39.9 from 36.3 in July, according to the median forecast of economists in a Bloomberg News survey.
A report at 8:30 a.m. in Washington may show U.S. retail sales climbed for a fourth consecutive month in July, increasing 0.3 percent, according to the median economist forecast compiled by Bloomberg.
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