(RTTNews) – German stocks recovered Tuesday as automakers increased after knowledge showed that car sales in China increased 16.4 a year in July, a sign of a stable recovery for the world’s largest market in the industry.
The DAX benchmark rose 275 points, or 2.17%, to 12962 after the final 0.1% in the last session.
BMW shares rose 4.7%, Daimler by 2.7% and Volkswagen by 3.2%.
Energy company Uniper fell by more than 2%. The company warned that it may have to jeopardize a loan for the planned Nord Stream 2 pipeline if the allocation collapses before U.S. sanctions.
Bayer, a pharmaceutical and life sciences company, rose 2.1% after accepting the acquisition of KaNDy Therapeutics Ltd., a UK-based clinical-level biotechnology company founded in 2017 as a spin-off of NeRRe Therapeutics Ltd.
HelloFresh Food Kit Delivery Company increased by more than 3% after raising its annual forecast.
Zalando, an e-commerce company, gained almost 3% after its quarterly net profit increased to 123 million euros, up from 46 million euros last year.