DAX Climbs As Business Activity Returns To Growth

(RTTNews) - German stocks climbed on Tuesday after a preliminary survey showed private sector activity in the country unexpectedly returned to growth in April as the services sector outperformed.

The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 50.5 from 47.7 in March - clinching a ten-month high.

Expectations of interest rate cuts by the European Central Bank and the Bank of England also helped underpin investor sentiment.

The benchmark DAX was up 125 points, or 0.7 percent, at 17,985 after rising 0.7 percent in the previous session.

SAP AG shares surged 4 percent. The software maker reaffirmed its outlook for 2024 after Q! cloud revenue increased 24 percent to 3.93 billion euro.