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The German stock market showed its best side on Thursday. The DAX closed at 1.2% plus 12,464.29 points. The Euro Stoxx 50 rose 0.9 percent to 3441.11 points. By Annika Kintscher
The possible derogation of the United States to import tariffs for European cars lowered prices on Thursday. In addition, good economic data provided a good mood: In May, the German industry received a lot more orders than expected.
The shares of German automakers and suppliers as well as other highly industry-dependent companies were among the favorites of German investors on Thursday. After talks with US Ambbadador Richard Grenell on Wednesday afternoon, leaders of the auto industry spoke of positive signals in industrial circles. In addition, the badysis firm Jefferies commented positively on the three German manufacturers. Shares of VW, BMW and Daimler took the top positions in the DAX with price gains of more than four percent each.
Wall Street does a good job after the holidays. Speculation of easing the tariff dispute between the United States and the European Union has given the US stock markets a tailwind. According to a report from "Handelsblatt", Mr Grenell said the United States would accept a complete renunciation of import duties, even if Europe renounced it. The company spokespersons did not want to comment. Chancellor Angela Merkel said she was willing to negotiate tariff cuts. At present, the Dow Jones index is up 0.5%, to 24,303.05 points.
US investors turned a blind eye to the US trade dispute with China. In the People's Republic, tariffs on Chinese products valued at $ 34 billion will come into effect on Friday. The downward trend on Asian stock markets also continued on Thursday.
On the business side, the industrial gas manufacturer Linde is especially distinguished. At times, the shares traded on the DAX reach a high of 4.6%. The reason was that the US merging partner Praxair had found a buyer for much of the European business. For around 5 billion euros, Americans spend most of their European activities on Japanese manufacturer Taiyo Nippon Sanso. In doing so, Praxair wishes to obtain the agreement of the European competition authorities to merge with Linde.
Source: Lisi Niesner / Reuters
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