German Stocks Fluctuate as Ireland Says Will Hold Referendum

German stocks swung between gains and losses after Ireland’s Prime Minister Enda Kenny said the country will hold a referendum to ratify the European fiscal compact.

Germany’s benchmark DAX Index rose less than 0.4 percent to 6,852.01 at 4:21 p.m. in Frankfurt having risen as much as 0.7 percent and fallen as much as 0.6 percent earlier.

Kenny, speaking in the Dublin parliament, said the Irish government decided to hold a vote after receiving legal advice from the state’s attorney general. The government will finalize arrangements for the vote in coming weeks, he said.

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