{"id":10124,"date":"2021-05-25T09:03:05","date_gmt":"2021-05-25T09:03:05","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/05\/25\/dax-climbs-on-takeover-news\/"},"modified":"2021-05-25T09:03:05","modified_gmt":"2021-05-25T09:03:05","slug":"dax-climbs-on-takeover-news","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/05\/25\/dax-climbs-on-takeover-news\/","title":{"rendered":"DAX Climbs On Takeover News"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> German stocks were sharply higher on Tuesday, with improved <span class=\"landLinks\">business<\/span> confidence data and news of a billion-dollar takeover deal combining two of Germany&#8217;s biggest property developers boosting sentiment. <\/p>\n<p>The benchmark DAX jumped 127 points, or 0.8 percent, to hover near a record high at 15,564 as traders returned to their desks after a long holiday weekend. <\/p>\n<p>Vonovia SE slumped 4 percent while Deutsche Wohnen SE soared as much as 15 percent after they signed an agreement to combine the two companies. <\/p>\n<p>Vonovia said it will launch a voluntary public takeover offer for all outstanding shares in Deutsche Wohnen.<\/p>\n<p>Technology stocks followed their U.S. peers higher, with Infineon Technologies gaining 2.7 percent. <\/p>\n<p>A measure of German business sentiment improved markedly in May to reach its highest value in two years, the Ifo Institute said earlier today. <\/p>\n<p>The Ifo business-climate index came in at 99.2 points in May compared with a revised reading of 96.6 points in April, reflecting increased optimism about the economic outlook. <\/p>\n<p>Meanwhile, the German <span class=\"landLinks\">economy<\/span> contracted slightly more than initially estimated in the first quarter due to the coronavirus pandemic, revised data from Destatis revealed.<\/p>\n<p>Gross domestic product fell 1.8 percent sequentially in the first quarter, in contrast to the 0.5 percent expansion seen in the fourth quarter. The sequential fall was revised from -1.7 percent.<\/p>\n<p>On an unadjusted basis, the annual decline in GDP deepened to 3.4 percent from 2.3 percent in the fourth quarter. The rate was revised from 3.3 percent.<\/p>\n<p>The calendar-adjusted GDP was down 3.1 percent on year, following a 3.3 percent decline a quarter ago. According to flash estimate, GDP was down 3 percent. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>DAX Climbs On Takeover News<\/a><br \/>\n<br \/>2021-05-25 09:03:05<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>German stocks were sharply higher on Tuesday, with improved business confidence data and news of a billion-dollar takeover deal combining two of Germany&#8217;s biggest property developers boosting sentiment. The benchmark&#8230;<\/p>\n","protected":false},"author":2,"featured_media":10125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-10124","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/10124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=10124"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/10124\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/10125"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=10124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=10124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=10124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}