DAX Rises Nearly 1.5% Ahead Of Vote On Spending Plan

RTTNews | 9h 27min ago
Stocktwits
DAX Rises Nearly 1.5% Ahead Of Vote On Spending Plan

(RTTNews) - German stocks are rising sharply on Tuesday as investors indulge in some hectic buying ahead of a vote on a multibillion-euro spending package, that would help reform the "debt brake" and increase funding for defense and infrastructure.

The approval for the plan could boost the nation's economy and stimulate growth across Europe, despite the ongoing tensions with the U.S.

The conservatives and Social Democrats (SPD), who are looking to form a coalition after the recent general election, are aiming to create the huge fund to facilitate higher spending on securitiy.

"I am confident we will achieve a two-thirds majority," said Friedrich Merz, leader of the conservative Christian Democrats.

The market is also looking ahead to U.S. President Donald Trump's Ukraine peace talks with his Russian counterpart Vladimir Putin later in the day.

Stocks from across several sectors are up with strong gains. Automobile and defense stocks are among the most prominent gainers.

The benchmark DAX was up 329.95 points or 1.43% at 23,460.00 a little while ago.

Continental, Bayer, Infineon Technologies, Commerzbank, Deutsche Bank, BMW, Mercedes-Benz, Zalando, Daimler Truck Holding and Porsche are gaining 2 to 4.3%.

Qiagen, Brenntag, BASF, Siemens, MTU Aero Engines, Hannover Rueck, Siemens Energy, Heidelberg Materials, SAP, Merk, Sartorius, Allianz and RWE are also notably higher.

Germany's ZEW economic sentiment survey results are due in a while. The economic sentiment index is forecast to rise to 48.1 in March from 26.0 in the previous month.

Stocktwits
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U.S. Industrial Production Climbs 0.7% In February, Much More Than Expected

U.S. Industrial Production Climbs 0.7% In February, Much More Than Expected

The Federal Reserve released a report on Tuesday showing industrial production in the U.S. increased by much more than expected in the month of January. The report said industrial production climbed by 0.7 percent in February after climbing by a downwardly revised 0.3 percent in January.
RTTNews | 4h 42min ago
U.S. Import, Export Prices Unexpectedly Increase In February

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A report released by the Labor Department on Tuesday showed an unexpected increases by U.S. import and export prices in the month of February. The Labor Department said import prices climbed by 0.4 percent in February, matching an upwardly revised increase in January.
RTTNews | 5h 14min ago
Fraport Stock Up On Growth In FY24 Results, Positive EBITDA Outlook

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RTTNews | 5h 27min ago
U.S. Housing Starts Spike 11.2% In February, Much More Than Expected

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New residential construction in the U.S. rebounded by much more than anticipated in the month of February, according to a report released by the Commerce Department on Tuesday. The Commerce Department said housing starts spiked by 11.2 percent to an annual rate of 1.501 million in February after plunging by 11.5 percent to a revised rate of 1.350 million in January.
RTTNews | 5h 29min ago
Bay Street Likely To Open On Volatile Note

Bay Street Likely To Open On Volatile Note

Canadian stocks are likely to see some volatile swings on Tuesday, with investors reacting to hot inflation data, and firm commodity prices. The jump in inflation is likely to prompt the Canadian central bank to refrain from lowering interest rates at its next policy meeting.
RTTNews | 6h 20min ago
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