Germany's benchmark DAX index closes slightly higher

GMT 15:00 2014 Friday ,17 October

Arab Today, arab today Germany's benchmark DAX index closes slightly higher

Germany's benchmark DAX index
Frankfurt - XINHUA

The benchmark DAX index at the Frankfurt Stock Exchange on Thursday closed at 8582.90 points, climbing up by 0.13 percent.
Statements of U.S. central bank governors slowed down the decline of Dax on Thursday afternoon. Before the opening of US stock markets, the DAX had suffered from weak data from the euro zone and clearly slipped below the mark of 8400 points - its lowest level for over a year.
The German stock market then stabilized after James Bullard, President of the Federal Reserve Bank of St. Louis, recommended that the Federal Reserve (Fed) postpone the end of the loose monetary policy, even if the fundamental data had remained robust.
Besides, the majority of U.S. economic data on Thursday, especially those for industrial production and business climate in the Philadelphia area, came out better than expected.
The automotive manufacturer Continental AG topped the risers with an increase of 3.45 percent. Other top risers were Deutsche Lufthansa AG, Bayer AG, BASF SE and Volkswagen AG Vz, which inreased 2.75 percent, 2.55 percent, 2.12 percent and 1.90 percent respectively.
Deutsche Bank AG dropped by 3.07 percent, leading top fallers including the health care company Fresenius SE & Co. KGaA, Henkel AG & Co. KGaA Vz as well as the untilities suppliers RWE AG St and E.ON AG, which went down by 2.02 percent, 1.96 percent, 1.79 percent and 1.41 percent respectively.
The turnover stood at 7.28 billion euros (around 9.28 billion U.S. dollars). Bayer AG was the most traded share of the day with a turnover of 586.36 million euros (around 747.55 million U.S. dollars).

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