DAX Gains As Automakers Surge
(RTTNews) - German stocks advanced on Monday as Beijing and Brussels took the "first step" towards resolving a months-long trade dispute over Chinese electric cars with new talks.
Investors shrugged off survey results from the ifo Institute showing that Germany's business sentiment softened in June.
The business confidence index fell to 88.6 in June from 89.3 in May. Analysts has forecast a score of 89.7.
Assessment of current situation remained unchanged, while expectations among companies deteriorated in June.
The benchmark DAX was up 104 points, or 0.6 percent, at 18,267 after declining half a percent on Friday.
Automakers BMW, Mercedes Benz and Volkswagen rallied 2-3 percent after China and the European Union have agreed to start talks on the bloc's plans to impose tariffs on electric vehicles imported from the Asian nation.
Online retailer Zalando plunged 6.4 percent after Morgan Stanley cut its rating on the stock to "equal weight" from "overweight".
South Korea Inflation Unchanged On Month In October
China Services PMI Improves To 52.0 In October - Caixin
Australia Services Sector Accelerates In October - Judo Bank
Singapore Private Sector Ebbs In October - S&P Global
Hong Kong Private Sector Expands In October - S&P Global
Asian Markets Mixed Amid Cautious Trades
Japanese Market Significantly Higher
