(RTTNews) – German stocks advanced on Thursday despite growing worries about the future of the global economy.
The euro opened slightly firmer against the dollar as investors continue to react to euro zone inflation numbers released earlier this week.
Traders looked ahead to the European Central Bank’s meeting next week, when the central bank is likely to offer additional clues on the pace and scale of interest rate hikes to fight inflation.
The benchmark DAX climbed 115 points, or 0.8 percent, to 14,455 after closing 0.3 percent lower the previous day.
Tech stocks advanced, with Infineon Technologies rising 1.2 percent.
Healthcare stocks were also moving higher, with Siemens Healthineers climbing 1.4 percent.
Banks Commerzbank and Deutsche Bank were up half a percent and 0.7 percent, respectively as the German 10-year bund yield strengthened to 1.206 percent from 1.188 percent.
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