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German stocks rallied on Thursday as benchmark U.S. 10-year Treasury yields retreated from more than three-month highs and investors shifted their focus to the U.S. non-farm payrolls data for additional cues on the Federal Reserve’s tapering timeline. <\/p>\n
Investors shrugged off official data that showed German industrial production declined more than expected in August amid supply chain disruptions. <\/p>\n
Industrial output fell 4 percent month-on-month in August, reversing a 1.3 percent rise in July, Destatis reported. Economists had forecast a monthly fall of 0.4 percent.<\/p>\n
Compared with February 2020, the month before restrictions were imposed due to the corona pandemic, production was 9.0 percent lower in August.<\/p>\n
On a yearly basis, industrial production gained 1.7 percent after rising 6 percent a month ago.<\/p>\n
The German DAX climbed 159 points, or 1.1 percent, to 15,132 after closing 1.5 percent lower the previous day. <\/p>\n
Automakers topped the gainers list, with BMW, Daimler and Volkswagen climbing between 1.4 percent and 2 percent. <\/p>\n
TeamViewer shares fell 5 percent to extend losses from the previous session after the software company reported quarterly results below its own expectations and cut its full-year guidance. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n