BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose on Monday as investors clung to hopes for U.S. stimulus spending and looked forward to a meeting of EU leaders is Brussels on Thursday and Friday for directional cues.
The European Union and the United Kingdom will continue talks on a trade deal ahead of the summit.
The benchmark DAX rose 50 points, or 0.4 percent, to 13,101 after closing 0.1 percent higher on Friday.
Banking stocks were in demand amid growing expectations of a Democratic victory in the U.S. presidential election. Commerzbank gained 1 percent and Deutsche Bank added 0.8 percent.
In economic releases, Germany's wholesale prices continued to decrease in September, data from Destatis revealed.
Wholesale prices fell 1.8 percent year-on-year in September but slower than the 2.2 percent decline posted in August. Prices have been falling since February. On a monthly basis, wholesale prices remained flat after falling 0.4 percent in August. The annual fall was largely driven by a 17.1 percent decrease in wholesale prices of petroleum products.
Copyright RTT News/dpa-AFX
© 2020 AFX News
