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Germany's benchmark DAX index closes up on Tuesday

Xinhua, December 7, 2016 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Tuesday added 90.49 points, or 0.85 percent, and closed at 10,775.32 points.

The DAX index continued to move sideway Tuesday morning. Financial and utility stocks strengthened after midday on expectation that the European Central Bank will extend its asset purchase program by at least six months beyond its scheduled end in March, driving the DAX up to near 10,800 points.

Deutsche Bank gained the most by 7.92 percent, with higher price target and an "equal--weight" rating from Morgan Stanley. Analyst expected better performance of European bank sector given rising inflation and economic recovery.

Pharma giant Merck Group fell 0.70 percent, followed by German materials company Henkel.

Deutsche Bank was the most traded share of the day with a turnover of 345.06 million euros (370.39 million U.S. dollars). Endit