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German stocks advanced on Friday as sportswear maker Adidas raised its sales outlook and data showed German companies increased exports for the eleventh month in a row in March.<\/p>\n
The benchmark DAX jumped 130 points, or 0.9 percent, to 15,327 after rising 0.2 percent the previous day. <\/p>\n
Adidas surged 7.6 percent as the company raised its 2021 sales outlook despite ongoing lockdowns in Europe. <\/p>\n
Similarly, automation company Siemens rallied 2.8 percent after lifting its revenue and profit guidance for the year. <\/p>\n
Automaker BMW rose 0.6 percent after reiterating its full-year profit margin outlook.<\/p>\n
In economic releases, Germany’s industrial production recovered at a faster than expected pace in March, data from Destatis revealed.<\/p>\n
Industrial production grew 2.5 percent month-on-month in March, reversing a 1.9 percent fall in February. Output was forecast to climb 2.3 percent. On a yearly basis, industrial production advanced 5.1 percent, in contrast to a 6.8 percent fall in February.<\/p>\n
Another report revealed that German exports growth accelerated unexpectedly in March.<\/p>\n
Exports increased 1.2 percent on a monthly basis in March, while economists had forecast the growth to ease to 0.5 percent from 1 percent in February.<\/p>\n
At the same time, imports growth rose sharply to 6.5 percent from 3.6 percent a month ago. This was the second consecutive increase and far exceeded the economists’ forecast of 0.7 percent.<\/p>\n
Year-on-year, exports advanced 16.1 percent, reversing a 1.2 percent fall in February and imports rose 15.5 percent after a 0.9 percent rise. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n