DAX Gains Ground As Coronavirus Worries Ease

German stocks rose sharply on Tuesday as the rate of new viral infection slowed slightly in mainland China and investors increased bets that China's central bank would deliver further stimulus to boost the world's second-largest economy.


The benchmark DAX was up 113 points, or 0.84 percent, at 13,607 as investors weighed the effects of liquidity measures put in place by Chinese policymakers to reduce the economic impact of the coronavirus outbreak on the economy.


Food service company Metro AG rose half a percent. The company has signed a deal with a consortium of The SCP Group S.? r.l. and x+bricks AG to sell its hypermarket business and related business activities, or otherwise known as REAL.


Precision mechanical engineering company Heidelberger Druckmaschinen shed 0.6 percent despite reporting a rise in Q3 profit and affirming its FY outlook.


Automaker Daimler AG edged up slightly after reporting its preliminary results for the fiscal year 2019 ended December 31, 2019.


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