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German Market Trades Higher On Greek Bail-out Hopes

The German market is trading higher on Friday, as investors continued to be optimistic about a Greek debt deal being near.

The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.89 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is rising 0.28 percent.

The DAX index has been in positive territory and is currently adding 0.85 percent.

HeidelbergCement is climbing 2.3 percent and Infineon Technologies is advancing 2.1 percent.

Automakers are in positive territory.

Deutsche Bank is moderately up and Commerzbank is posting modest gains.

Fresenius Medical Care and ThyssenKrupp are notably lower.

Lubricants maker Fuchs Petrolub is advancing 1.6 percent. The company reported a higher profit for 2011, reflecting a 14 percent growth in sales revenues.

Cheuvreux raised Puma to "Outperform" from "Underperform." The stock is climbing 3.2 percent.

Biotechnology firm MorphoSys is losing 1.3 percent. Commerzbank cut the stock to "Hold" from "Buy."

Agricultural firm KWS SAAT is climbing 1.3 percent. Commerzbank raised the stock to "Add" from "Hold."

Kabel Deutschland was reduced to "Sell" from "Neutral" at Citigroup. The stock is modestly lower.

Elsewhere in Europe, the French CAC 40 is climbing 1.04 percent and the UK's FTSE 100 is dropping 0.37 percent. Switzerland's SMI is advancing 0.10 percent.

In economic news, Germany's producer price inflation slowed for the fourth month in a row, data released by the Federal Statistical Office showed.

In the U.K., retail sales increased in January, against economists' expectations for a decline data from the Office for National Statistics revealed.

Across Asia/Pacific, markets closed in positive territory on optimism about Europe. Australia's All Ordinaries gained 0.4 percent, Hong Kong's Hang Seng climbed about 1 percent and Japan's Nikkei 225 climbed 1.6 percent. China's Shanghai Composite Index managed to end in the green by making a marginal gain.

In the U.S., futures point to a mixed open on Wall Street. In the previous session, the Dow jumped 1 percent, the Nasdaq gained 1.5 percent and the S&P 500 added 1.1 percent.

In the commodity space, crude for March delivery is adding $0.44 to $102.75 per barrel and April gold is rising $5.5 to $1733.9 a troy ounce.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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