German Stocks Climb as DAX Extends Seventh Quarterly Gain
Drillisch AG rose 2.3 percent as Chief Executive Officer Paschalis Choulidis told a newspaper that the telecommunications company may pay a special dividend or buy back shares this year. Jungheinrich AG jumped 5.5 percent as Deutsche Bank AG recommended buying the stock. Grammer AG added 4 percent after saying it plans to increase its annual payout by 30 percent. SMA Solar Technology AG (S92) dropped 5.4 percent.
The DAX climbed 0.2 percent to 9,605.2 at 9:48 a.m. in Frankfurt. The equity gauge gained 0.6 percent in the first three months of 2014, its seventh consecutive quarterly advance. German shares have still lost 0.9 percent in March as Russia annexed Crimea, prompting the West to impose sanctions. The broader HDAX Index also rose 0.2 percent today.
The volume of shares changing hands in DAX-listed companies was 36 percent lower than the average of the last 30 days, according to data compiled by Bloomberg.
German retail sales climbed 1.3 percent in February, the Federal Statistics Office in Wiesbaden said today. Economists had predicted a drop of 0.5 percent, according to the median of 21 estimates compiled by Bloomberg News. Sales rose 2 percent from a year earlier.
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