April 19, 2021

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DAX Rises As Investors Watch Bond Yields

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German stocks advanced on Wednesday as investors paid close attention to bond market developments.

U.S. Treasury yields retreated after Federal Reserve Governor Lael Brainard said it will take “some time” to meet the conditions for economic progress laid out by the U.S. central bank for reducing the pace of its massive asset purchases.

Recent bond market vitality could cause further delay in tapering, she said Tuesday in response to a question after giving a speech.

The benchmark DAX climbed 113 points, or 0.8 percent, to 14,153 after rising 0.2 percent the previous day.

Banks Commerzbank and Deutsche Bank were up around 1 percent.

Dialog Semiconductor gained half a percent. The chip designer reported that its net income for the fourth-quarter rose 29 percent from last year.

Delivery Hero SE was down 0.7 percent. The online food ordering company said all closing actions have been taken with respect to the Woowa Brothers deal.

As part of the transaction, the company and the Woowa management are moving into a strategic partnership regarding the operations of both companies in Asia.

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2021-03-03 04:03:24

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