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German stocks rebounded on Wednesday after data showed the country’s factory orders unexpectedly expanded in May underpinned by the rise in demand from the non-euro area countries.<\/p>\n
New orders grew 0.1 percent month-on-month in May, reversing the trend after a third consecutive monthly drop, Destatis reported.<\/p>\n
That was in contrast to the revised 1.8 percent decline in April and the expected fall of 0.6 percent.<\/p>\n
On a yearly basis, factory orders declined 3.1 percent, slower than the April’s 5.3 percent decrease.<\/p>\n
Elsewhere, a survey conducted by the ifo Institute revealed that German retailers are bracing themselves for supply problems to persist for another full year. <\/p>\n
Investors await the release of the Eurozone retail sales data for May later in the day for further direction. <\/p>\n
The benchmark DAX jumped 160 points, or 1.3 percent, to 12,561 after plunging 2.9 percent in the previous session. <\/p>\n
Evotec AG advanced 1.8 percent. The German drug discovery and development company, Boehringer Ingelheim and bioM\u00e9rieux have established a joint venture Aurobac Therapeutics SAS, with an investment of 40 million euros. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n