German stocks experienced an upward movement on Thursday as investors directed their attention towards the two-day summit in Beijing. At this event, U.S. President Donald Trump and Chinese President Xi Jinping are expected to engage in discussions on a range of topics, including trade and security, while also seeking to enhance economic cooperation.
Trump, having conducted his initial bilateral meeting with Xi, is reported to have conveyed to the Chinese Prime Minister today that the relationship between the two nations will be ‘better than ever before.’ The benchmark DAX increased by 328.91 points, reflecting a rise of 1.36%, reaching a level of 24,430.64 recently.
- Infineon Technologies experienced an increase of approximately 3.5%.
- Siemens experienced a 3% increase following the announcement of its agreement to acquire the core business of an Italian rail technology firm.
- Group MERMEC aims to enhance its rail portfolio and secure market access to Italy.
- Volkswagen experienced an increase of 2.75%.
- Daimler Truck Holding and Porsche Automobil Holding experienced increases of 2.3% and 2.1%, respectively.
- Gea Group, Siemens Energy, Brenntag, Mercedes-Benz, Rheinmetall, Siemens Healthineers, Deutsche Bank, SAP, Allianz, Commerzbank, and Zalando experienced an increase of 1% to 2%.
- BMW experienced a decline of approximately 3%.
- Heidelberg Materials experienced a decline of nearly 2%, whereas Scout24 and Deutsche Boerse saw reductions of 1.6% and 1.4%, respectively.