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DAX Extends Gains Ahead Of FOMC Announcement

German stocks rose on Thursday to extend gains from the previous session, as the U.S. midterm election results offered no surprise and data showed China's exports and imports both increased more than expected in October.

Traders looked ahead to the FOMC announcement for new clues as to whether the U.S. central bank will signal a December rate hike.

The benchmark DAX was up 57 points or 0.49 percent at 11,636 in opening deals after rising 0.8 percent in the previous session.

Commerzbank jumped more than 4 percent. The lender reported a decline in third-quarter earnings, but backed its FY outlook and maintained dividend pledge.

Siemens advanced 1.4 percent. The engineering firm raised dividend and announced a share buyback.

HeidelbergCement climbed over 4 percent. The cement maker affirmed its FY18 profit outlook after reporting a 12 percent increase in Q3 profit.

Freenet AG shares slumped 4.4 percent. The network-independent telecommunications provider reported that its EBITDA exclusive of Sunrise and profits of analogue radio sale for the third-quarter amounted to 104.8 million euros, slightly lower than the corresponding previous-year quarter level.

Deutsche Telekom edged up slightly after reporting a surge in Q3 net profit and raising FY18 adjusted EBITDA view.

Hannover rose half a percent after reporting a rise in nine-month profit and confirming FY18 profit view.

In economic news, Germany's exports and imports declined unexpectedly in September, official data revealed.

Exports dropped 0.8 percent month-on-month, reversing a 0.1 percent rise in August. At the same time, imports slid 0.4 percent following August's 2.4 percent decrease. Economists had forecast a 0.3 percent rise in exports and a 0.8 percent increase in imports.

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